Closing Bell: TASI rises 1.3% as market breadth remains positive

24/06/2025 23:54 AST

Saudi Arabia's Tadawul All Share Index rose 1.29 percent to close at 10,710.24 on Monday, supported by broad-based gains across sectors.

Trading activity remained healthy, with turnover hitting SR4 billion ($1 billion) and the market recording 225 advancers versus 20 decliners.

The MSCI Tadawul 30 Index also climbed 1.16 percent to close at 1,377.63. The parallel market Nomu ended 0.80 percent higher at 26,358.07.

Red Sea International Co. led the main market gainers with a 9.97 percent jump to SR38.60. Al-Rajhi Co. for Cooperative Insurance followed with an 8.86 percent gain to close at SR113.

Other top performers included National Gypsum Co., which rose 7.61 percent to SR19.52; Americana Restaurants International, up 6.86 percent at SR2.18; and Naseej International Trading Co., which added 6.53 percent to reach SR78.30.

On the downside, Sustained Infrastructure Holding Co. was the biggest decliner, falling 3.07 percent to SR25.30.

Alistithmar AREIC Diversified REIT Fund dropped 1.58 percent to SR8.12, while Eastern Province Cement Co. slipped 1.17 percent to SR29.50.

Other notable fallers included Knowledge Economic City, down 0.92 percent at SR12.86, and Saudi Industrial Investment Group, which closed 0.71 percent lower at SR16.70.

On the announcement front, Etihad Atheeb Telecommunications Co., known as GO Telecom, confirmed the completion of its acquisition of a 51 percent stake in Ejad Tech for Information Technology.

The deal, valued at SR86.7 million, was finalized using internal company resources. The group stated that SR40 million was paid upon signing, with the remaining SR46.7 million to be disbursed in two instalments contingent upon target achievements - SR23.7 million by the end of 2025 and SR23 million by the end of 2026.

GO Telecom said the acquisition is part of a strategic initiative to broaden its business base and enter new sectors. Ejad Tech is recognized as one of the top five digital transformation service providers in the Middle East.

GO Telecom shares closed up 0.98 percent at SR93.10.