RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, losing 38.52 points, or 0.30 percent, to close at 12,666.90. 

The total trading turnover of the benchmark index was SR6.28 billion ($1.67 billion) as 103 of the stocks advanced, while 122 retreated.   

On the other hand, the Kingdom’s parallel market Nomu gained 137.34 points, or 0.52 percent, to close at 26,390.11. This comes as 31 of the stocks advanced while as many as 38 retreated. 

Meanwhile, the MSCI Tadawul Index slipped 16.03 points, or 0.98 percent, to close at 1,615.00.  

The best-performing stock of the day was Etihad Atheeb Telecommunication Co. The company’s share price surged 9.98 percent to SR110.20.  

Other top performers include ACWA Power Co. as well as Saudi Steel Pipe Co. 

The worst performer was Sahara International Petrochemical Co., whose share price dropped by 4.72 percent to SR34.35. 

Other worst performers include the Arab National Bank as well as the Saudi National Bank.  

On the announcements front, Gulf Insurance Group has announced the board of director’s decision to distribute SR78.75 million in cash dividends to shareholders for the fiscal year 2023. 

According to a Tadawul statement, the total number of shares eligible for dividends amounted to 52.5 million, with the dividend per share standing at SR1.5. 

The statement also revealed that the percentage of dividends to the share par value stood at 15 percent. 

Moreover, Scientific & Medical Equipment House Co. has announced the signing of an SR180 million contract with the Ministry of Health to provide cooked nutrition to hospitals in Madinah.  

A bourse filing revealed that the financial impact of the five-year agreement will commence in the third quarter of 2024.  

Additionally, Al Kathiri Holding Co. has announced that one of its subsidiaries, Msandh Al-Emdad Co., has been awarded a project with the Presidency of State Security to establish a building in Riyadh with a total value of SR20 million.  

According to a Tadawul statement, this project includes the supply and implementation of structural, architectural, and mechanical as well as electrical and systems works for the building in accordance with competition drawings and documents.  

Furthermore, the Saudi Ground Services Co. has announced the signing of an SR2 billion contract renewal with flynas for a duration of five years.  

A bourse filing revealed that under this contract, the Saudi Ground Services Co. would provide ground handling assistance, including ramp and passenger services, for domestic and international flights at all airports in the Kingdom. 

Meanwhile, Gulf General Cooperative Insurance Co. has announced the completion of the sale of 3,321 fractional shares.  

According to a Tadawul statement, the sale revenue of the fractional shares stood at SR44,838, with the average selling price per share reaching SR13.50.  

This comes following the decrease of the company’s capital based on the approval of the extraordinary general assembly.

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