RIYADH: Saudi Arabia’s Tadawul All Share Index fell 108.30 points on Sunday to close at 10,138.31, dragged by the bearish wave in the capital goods, consumer durables and apparel sectors. The Capital Goods Index fell 216.36 points or 3.98 percent to close at 5,213.3 points. The index declined 12 percent over the last month since Nov.10, when it ended at 5,967.17. Likewise, on Sunday, the Consumer Durables and Apparel Index fell 3.49 percent to finish at 4,214 points, while the Real Estate Management and Development Index tumbled 2.94 percent to wind up at 2,566.97 points. Besides the real estate investment trusts, the utilities also bucked the trend. The Utilities Index rose 126.72 points to close at 6,715 points, buoyed by ACWA Power which increased 4.3 percent to cease at SR138 ($36.70). The company last Thursday signed a series of agreements with nine Chinese entities, laying the ground for financing and constructing its renewable energy projects in Saudi Arabia and Belt and Road Initiative countries. However, the parallel market Nomu on Sunday declined 232 points to stop at 18,534.86. The advance-decline ratio of the benchmark index also took a huge hit, with 183 stocks of the listed 219 dropping while 27 gained. The total trading turnover was SR3.05 billion. On the announcements front, Saudi National Bank declared the completion of capital hike procedures with Credit Suisse Group. In a statement to Tadawul, the Saudi bank said that as of Dec.9, it held 9.88 percent of the Swiss bank’s shares. SNB shares closed 2.03 percent higher to SR47.85. Saudi British Bank on Sunday announced the repurchase of up to 1 million ordinary shares to be allocated for the long-term employee stock incentive plan. In a statement to Tadawul, it said the bank would finance the repurchase from its internal resources. The current percentage of its treasury shares of total target shares stands at 0.20 percent. However, the bank’s share price fell 1.09 percent to close at SR36.45. Yanbu Cement Co., however, brought some cheer to its shareholders as it declared a 7.5 percent cash dividend, at SR0.75 per share, for the second half of 2022. The company will be doling out SR118.13 million on Dec. 29. The company’s share price on Sunday closed 0.45 percent higher to end at SR33.50.
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