RIYADH: The Saudi stock market started the week higher on Sunday, with the benchmark Tadawul All Share Index adding 27.99 points, or 0.26 percent, to close at 10,808.68.
Market activity saw 166 gainers against 76 losers, with a total of 272.83 million shares traded at a value of SR4.74 billion ($1.26 billion).
The parallel market Nomu also advanced, rising 58.35 points, or 0.23 percent, to 25,349.27, with 41 stocks ending in positive territory while 38 declined.
Meanwhile, the MT30 index, which tracks the performance of the 30 largest companies by market capitalization and liquidity, edged up 2.24 points, or 0.16 percent, to close at 1,401.03.
On the sector front, MBC Group led the gainers, climbing 10 percent to SR35.42, continuing its rising streak from last Thursday after the Public Investment Fund’s acquisition.
It was followed by Abdullah Saad Mohammed Abo Moati for Bookstores Co., which advanced 8.70 percent to SR40.98, and The Mediterranean and Gulf Insurance and Reinsurance Co., which increased 7.14 percent to SR16.80.
East Pipes Integrated Co. for Industry rose 6.81 percent to SR117.60, while Arabian Contracting Services Co. gained 5.99 percent to SR92.95.
On the other hand, Dar Alarkan Real Estate Development Co. fell 5.84 percent to SR15.79, while Saudi Real Estate Co. dropped 4.95 percent to SR15.17.
Thimar Development Holding Co. slipped 3.51 percent to SR44, Saudi Ground Services Co. lost 2.63 percent to SR43.68, and Alahli REIT 1 Fund edged down 2.39 percent to SR6.54.
On the announcement front, Saudi Vitrified Clay Pipes Co. said it signed an agreement to sell its second plant in Riyadh, which produces vitrified clay pipes and related fittings, for SR45 million to Al-Mutahidah Al-Namothajiya Industries Co.
The company said the sale is expected to generate a capital gain of SR20.1 million and proceeds will be used to fund operating activities.
Its shares closed at SR26.72, up 0.6 percent.
Dar Al Majdiah Real Estate Co. clarified that the updated Executive Regulations of the White Land Fees, issued by the Ministry of Municipalities and Housing, will not have a material impact on its financials or operations.
The company highlighted it had already settled SR1.7 million in fees and noted invoices of SR3.3 million remain under objection with authorities.
Shares of Dar Al Majdiah ended at SR12.96, down 1.37 percent.
Ladun Investment Co. also stated that the implementation of the newly amended White Land Tax Regulations will have no material impact on its financials.
Shares of the company rose 5.45 percent to SR2.9.
Separately, Al Moammar Information Systems Co. announced the signing of a SR60.54 million contract, including VAT, with Emdad Solutions for ICT to provide IT services over a 36-month period.
The company said the agreement is expected to have a positive financial impact starting from the third and fourth quarter of 2025.
Shares of MIS closed at SR134, gaining 0.6 percent.
Source: www.arabnews.com