RIYADH: Saudi Arabia’s benchmark index fell on Sunday as investors shied away from the market due to dampening business sentiment and uncertainty in global demand. The Tadawul All Share Index fell 142 points to close at 10,796, while the parallel market, Nomu, plunged 300 points to finish at 18,866. Of the 219 companies listed on TASI on Sunday, 33 advanced, while 173 declined. The total trading turnover closed at SR2.58 billion ($690 million). It had fallen to SR1.7 billion in the first three hours of trading on Sunday. The first important announcement on the bourse came from SNB Capital, the lead manager of Saudi Aramco Base Oil Co., also known as Luberef, intending to proceed with an initial public offering and listing of its ordinary shares on the primary market. The statement said the offer is expected to sell existing shares and result in a free float of 29.65 percent of Luberef share capital or 50.05 million ordinary shares. The offering price will be determined after the book-building period, the statement added. Middle East Paper Co. also announced the approval of its shareholders to its board’s recommendation to increase capital by 33.3 percent by granting one bonus share for every three shares held during an extraordinary general meeting on Nov. 24. The company shares, however, fell 2 percent to close at SR28.6 after reaching SR27.70. Meanwhile, Yaqeen Capital, the financial adviser and lead manager for the IPO of Molan Steel Co. on the Nomu-Parallel Market, announced that the issue was oversubscribed. The steel company offered 532,410 shares, representing 20.02 percent of its capital. The final offer price was set at SR 24 per share, the statement added. From an industry standpoint, the Pharma, Biotech & Life Science index fell for the bearish prowl as it fell 44 points to close at 3,015. Interestingly, the Healthcare Equipment & Services index rose 52 points to 8,872. Tourism Enterprise Co. has been under the spotlight in the top gainers’ list on TASI for a while now. It increased by 2.9 points to close at SR32.05. The other gainers included Dr. Sulaiman Al Habib Medical Services Group, Arabian Drilling Co and Alhokair Group for Tourism and Development. The top fallers were Malath Cooperative Insurance Co., United Wire Factories Co., Al Yamamah Steel Industries Co, Red Sea International Co. and Nama Chemicals Co.