Closing Bell: Saudi Main Index Closes In Red At 11,736 

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Tuesday, with the index shedding 51.65 points to close at 11,736.07. 

The total trading turnover of the benchmark index was SR5.15 billion ($1.37 billion) with 54 of the listed stocks advancing, while 179 declined.

The Kingdom’s parallel market Nomu also slipped by 0.85 percent to 30,602.83, while the MSCI Tadawul Index inched down by 0.22 percent to 1,474.39.  

The best-performing stock on the main market was Riyadh Cables Group Co., with its share price surging by 7.56 percent to SR128.  

Media giant MBC Group’s share price soared by 6.83 percent to SR50.80, while the stock price of Elm Co. increased by 4.03 percent to SR1,105.  

Conversely, the share price of Jadwa REIT Saudi Fund slipped by 5.12 percent to SR10.38.  

On Nomu, the top gainer was Miral Dental Clinics Co. The firm’s share price increased by 14.63 percent to SR113.60. 

In announcements, the Saudi Investment Bank stated that it has completed the debut offering of its $750 million dollar-denominated Tier 1 Sustainable Sukuk, issued under its $1.5 billion Additional Tier 1 Sukuk Program. 

The bank confirmed that the offering will be settled on Nov. 27, and the sukuk will be listed on the London Stock Exchange’s International Securities Market. 

SAIB’s share price rose by 0.57 percent on Tuesday, closing at SR14.04. 

Saudi Reinsurance Co. announced that it has received approval from the Kingdom’s Capital Market Authority to increase its capital by offering 26.73 million shares, while suspending preemptive rights, at a value of SR427.68 million. 

The reinsurance firm’s share price increased slightly by 0.11 percent to SR45.50. 

Tamkeen Human Resources Co. stated that it will begin trading on Saudi Arabia’s main market on Nov. 27. 

The daily and static fluctuation limits for the company’s stocks will be set at 30 percent and 10 percent, respectively, during the first three days of trading. 

From the fourth day, the daily price fluctuation limits will revert to ±10 percent, and the static price fluctuation limits will no longer apply.