Closing Bell: Saudi Main Index Closes In Green At 11,174

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Monday, gaining 95.45 points, or 0.86 percent, to close at 11,174.13

The total trading turnover of the benchmark index was SR6.01 billion ($1.59 billion), as 174 of the listed stocks advanced, while 83 retreated.

The MSCI Tadawul Index also increased, up 15.20 points or 1.02 percent to close at 1,505.33.

The Kingdom’s parallel market Nomu lost 1.08 points to close at 21,645.74. This comes as 32 of the listed stocks advanced, while 36 retreated.

Top performers

The best-performing stock was Saudi Vitrified Clay Pipes Co. with its share price surging by 10 percent to SR21.34.

Other top performers included Saudi Reinsurance Co., which saw its share price rise by 9.96 percent to SR26.72, and Gulf General Cooperative Insurance Co., which saw a 9.37 percent increase to SR4.32.

Worst performers

On the downside, the worst performer of the day was National Medical Care Co., whose share price fell by 3.82 percent to SR126.

Arabian Pipes Co. and National Gas and Industrialization Co. Holding also saw declines, with their shares dropping by 3.03 percent and 2.70 percent to SR6.40 and SR59.50, respectively.

Hamad Bin Saedan Real Estate signs SR13.7m contract

On the announcement front, Hamad Mohammed Bin Saedan Real Estate Co. announced the signing of a construction contract with Raya Al Omran Contracting Co. for the development of its “Dar Hamad 3” project, a residential development spanning 9,600 sq. meters in Riyadh’s Namar Suburb district.

According to a Tadawul statement, the turnkey contract valued at SR13.7 million covers the construction of modern-designed residential units over a 10-month period.

The project is designed to combine quality, privacy and efficient use of space while serving various customer segments, in line with the company’s strategy to develop sustainable residential communities.

Hamad Bin Saedan Real Estate expects the project to positively impact its profitability through revenue growth and returns from the development and sale of the residential units, with the financial effects anticipated to appear in the company’s results during the fourth quarter of 2027.

The company’s share price closed today’s session at SR8.14, slipping 0.25 percent.