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Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Wednesday, losing 30.65 points, or 0.28 percent, to close at 11,114.90.
The total trading turnover of the benchmark index reached SR4.23 billion ($1.12 billion), with 72 stocks advancing and 182 retreating.
Similarly, the Kingdom’s parallel market Nomu lost 34.97 points, or 0.15 percent, to close at 23,186.18. A total of 25 stocks advanced, while 32 retreated.
The MSCI Tadawul Index lost 2.51 points, or 0.17 percent, to close at 1,486.03.
The best-performing stock of the day was Gulf Insurance Group, whose share price surged 6.24 percent to SR31.68.
Other top performers included Elm Co., whose share price rose 3.37 percent to SR737, and East Pipes Integrated Co. for Industry, whose share price gained 3.14 percent to SR220.
Aljazira Takaful Taawuni Co. recorded the steepest decline of the day, falling 4.95 percent to SR11.52.
Saudi Cement Co. also saw its share price fall 4.33 percent to SR31.38.
Rabigh Refining and Petrochemical Co. declined 4.15 percent to SR12.70.
On the corporate front, AlJazira Bank announced the launch of an offer for US dollar-denominated additional tier 1 capital certificates under its $1.5 billion issuance program.
According to a Tadawul statement, the amount and terms of the offer will be determined based on market conditions. The minimum subscription amount is $200,000, with subscriptions accepted in increments of $1,000 thereafter.
AlJazira Bank ended the session at SR11.76, down 0.59 percent.
Dar Al Majed Real Estate Co., also known as Al Majdiah, announced the opening of a new sales center in Jeddah on King Abdulaziz Road in Al Shati District as part of its expansion strategy and efforts to strengthen its presence in the Western Region.
A bourse filing said the center is intended to support the company’s sales and customer service operations by providing a dedicated space to showcase its real estate projects and offerings, while enhancing engagement with customers and investors.
The company added that the center forms part of its regular business operations and is expected to support its commercial and marketing activities while broadening its reach across the Kingdom’s Western Region.
Al Majdiah ended the session at SR7.39, down 0.41 percent.
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