JEDDAH: Saudi Arabia’s Tadawul All Share Index rose for a second consecutive session on Tuesday, climbing 224.67 points, or 2.3 percent, to close at 9,986.45.
Trading activity totaled more than 441 million shares worth around SR7.16 billion ($1.91 billion), with 237 companies advancing and 30 declining.
The Nomu parallel market rose 325.66 points, or 1.54 percent, to close at 21,537.38, with 47 stocks advancing and 24 declining. Meanwhile, the MSCI Tadawul 30 Index climbed 29.14 points, or 2.20 percent, to end the session at 1,353.52.
Market movers
BinDawood Holding Co. led the market’s gainers, up 10 percent to close at SR4.40. Qassim Cement Co., Saudi Ceramic Co., and Alamar Foods Co. followed, each jumping 9.99 percent to end the session at SR46.70, SR20.81 and SR39.40, respectively.
On the downside, National Co. for Learning and Education led the decliners, dropping 6.48 percent to close at SR108.20.
Nahdi Medical Co. retreated 4.82 percent to SR82.90, while Arabian Cement Co. fell 4.56 percent to close at SR17.99.
Corporate disclosures
Al-Moammar Information Systems Co. announced it has signed a framework agreement worth SR134.84 million, including value-added tax, with the Saudi Data and Artificial Intelligence Authority, according to a bourse filing.
MIS said the 36-month agreement covers the supply of network equipment and accessories, workstation accessories including biometric devices and cameras, portable biometric enrollment devices, and video communication equipment.
It also includes delivery to SDAIA’s warehouses and branches across Saudi Arabia, with warranty services provided throughout the contract period, as per MIS’s release.
The company, whose share price climbed 5.65 percent to SR269.40, said the agreement’s financial impact is expected to be reflected in the fourth quarter of the current year.
Al-Omran Industrial Trading Co. announced it is assessing the expected financial impact of higher electricity and water tariffs on its operating activities, according to a Tadawul release.
The company added that production and sales costs may increase following the announced changes to electricity and water tariffs, which are scheduled to take effect on Jan. 1.
Al-Omran, whose share price climbed 5.2 percent to SR16.40, said it will disclose the final financial impact in its 2027 financial statements, after the tariff increases are implemented and their effects are reflected in its financial results.
Southern Province Cement Co. said adjustments to electricity, water and sewage tariffs are expected to have no material direct impact on its production costs or financial results, according to a Tadawul statement.
The company said its plants are not connected to the electricity transmission or distribution grid and instead rely on power generated by their own plants using heavy fuel oil, adding that it does not source the water required for its production processes from the National Water Co.
SPCC, whose share price edged up 2.01 percent to SR16.11, stressed it would disclose any material financial impact if any of its plants are connected to the electricity transmission or distribution grid in the future.
Arabian United Float Glass Co., however, expects adjustments to electricity and water tariffs to increase its total cost of sales by approximately 0.8 percent, according to a bourse release.
The company, also known as United Float Glass, said the financial impact expected to become apparent from the first quarter of the 2027 fiscal year, pointing out that its estimate was based on a preliminary financial assessment as of June 30.
The Nomu-listed UFG, whose share price remained unchanged at SR23, added that it would continue to optimize its operations and resource utilization to mitigate the higher costs, and keep shareholders informed of further developments.
Walaa Cooperative Insurance Co. announced that Moody’s Ratings had affirmed its Insurance Financial Strength Rating at A3, with a stable outlook, according to a bourse filing.
The insurer said the affirmation reflects a recovery in its underwriting performance and overall profitability during the first half of 2026, adding that Moody’s expects the improvement to continue over the next 12 to 18 months.
Walaa, whose share price rose 2.93 percent to SR10.19, also noted in its announcement that Saudi Arabia holds an Aa3 sovereign rating with a stable outlook.
The Mediterranean and Gulf Cooperative Insurance and Reinsurance Co., or MedGulf, announced it had been awarded a contract by a government entity to provide health insurance services to its employees and their dependents for one calendar year, according to a market release.
The company did not disclose the entity’s name but said the contract value exceeds 5 percent of its total revenue, based on its latest audited annual financial statements for 2025.
MedGulf, whose share price increased 6.93 percent to SR13.74, expects the contract to have a positive impact on its financial results from the fourth quarter of 2026 through the end of 2027.