Closing Bell: Saudi Arabias Main Index Closes In Green At 12,421

RIYADH: Saudi Arabia’s Tadawul All Share Index edged up on Tuesday, gaining 47.75 points, or 0.39 percent, to close at 12,420.64.

The main index saw a total trading turnover of SR9.04 billion ($2.41 billion), with 131 of the listed stocks advancing and 94 retreating.

The Kingdom’s parallel market Nomu also gained 8.68 points to close at 31,022.97.

The MSCI Tadawul Index rose by 0.36 percent to close at 1,544.15.

The best-performing stock on the main market was Jabal Omar Development Co., with its share price surging by 7.54 percent to SR27.80.

Almoosa Health Co. also emerged as a top gainer, with its share price increasing by 6.94 percent to SR169.60.

The share price of Thimar Development Co. also rose by 6.52 percent to SR58.80, while Dar Alarkan Real Estate Development Co. saw its stock price decline by 5.42 percent to close at SR16.06

Away from the stock prices, Itmam Consultancy Co. revealed that it signed an agreement with Saudi Arabia’s Ministry of Foreign Affairs to study the formation of a legal committee.

According to a Tadawul statement, the contract duration is 18 months, and the value of the agreement will exceed 10 percent of the firm’s total revenue in 2023.

Data from the Saudi Stock Exchange indicated that Itmam Consultancy Co. reported a revenue of SR78.8 million in 2023.

The share price of Itmam Consultancy Co. declined by 0.66 percent to close at SR18.10.

Banan Real Estate Co. announced that its subsidiary, Qimam Noshoz Real Estate Development Co., signed a 19-year agreement valued at SR224.02 million with Armah Sports Co. to develop and lease two sports clubs in Riyadh.

According to a Tadawul statement, Qimam Noshoz will develop the land leased by Armah into two fully equipped fitness clubs, one for men and the other for women.

Banan Real Estate Co.’s share price increased by 1.43 percent to SR7.09.