RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Thursday, losing 80.97 points, or 0.69 percent, to close at 11,621.93. The total trading turnover of the benchmark index was SR5.24 billion ($1.39 billion) as 63 of the listed stocks advanced, while 154 retreated. Similarly, the MSCI Tadawul Index dipped 1.42 points, or 0.76 percent, to close at 1,501.09. The Kingdom’s parallel market Nomu rose by 55.10 points, or 0.23 percent, to close at 23,782.05. This comes as 20 of the listed stocks advanced while 31 retreated. The best-performing stock of the day was Saudi Real Estate Co., whose share price surged 4.76 percent to SR14.52. Other top performers include Arabian Centres Co. and Saudi Automotive Services Co., whose share prices soared by 3.96 percent and 3.61 percent to stand at SR21 and SR71.80, respectively. In addition to this, other top performers included Aldrees Petroleum and Transport Services Co. and Amlak International Finance Co. The worst performer was National Medical Care Co., whose share price dropped by 4.65 percent to SR156. Other worst performers were Al Sagr Cooperative Insurance Co. as well as Batic Investments and Logistics Co., whose share prices dropped by 3.41 percent and 3.21 percent to stand at SR24.92 and SR2.11, respectively. Moreover, other worst performers also include Astra Industrial Group and Alamar Foods Co. On the announcements front, and following a statement released by Fawaz Abdulaziz Alhokair Co. on Tadawul regarding ongoing discussions with Arabian Centres Co. about a possible business merger, the directors of both companies have collectively decided to temporarily halt these discussions until further notice. Despite recognizing the strategic advantages of a potential merger, both entities believe that the existing conditions and timing are not conducive to the successful combination of their businesses at this point. Also, the Saudi Capital Market Authority has approved the listing of Kinan International for Real Estate Development and Al-Muhafatha for Education on the parallel market Nomu. According to Al-Ekhbariya, Kinan will offer 3.6 million shares, and Al-Muhafatha will offer 1.6 million shares. The opportunity is limited to qualified investors, with the issuance prospectus to be released before the start of the offering. Investors are advised to consult a financial advisor. The CMA’s approval is valid for six months, and the offering must be completed within this period.