JEDDAH: Saudi Arabia’s Tadawul All Share Index fell on Wednesday, losing 47.72 points, or 0.45 percent, to close at 10,542.23.

Trading activity totaled around 180 million shares worth more than SR2.91 billion ($776 million). Of the traded stocks, 90 advanced while 169 declined.

The parallel market, Nomu, gained 48.54 points, or 0.22 percent, to close at 21,784.97, with 35 stocks advancing and 25 declining. The MSCI Tadawul 30 Index fell 5.95 points, or 0.42 percent, to close at 1,418.6.

Market movers

Watani Iron Steel Co. extended its winning streak, surging 10 percent to SR2.20 after gaining 9.89 percent in the previous session. Arab Sea Information System Co. followed, climbing 9.79 percent to SR4.15 after advancing 9.88 percent in the prior session. National Gypsum Co. rose 5.51 percent to SR11.68.

On the losing side, Saudi Ground Services Co. fell 4.98 percent to SR22.12. Amana Cooperative Insurance Co. declined 4.78 percent to SR6.77, while Arabian Internet and Communications Services Co. shed 3.64 percent to close at SR103.10.

Corporate disclosures

Arabian Internet and Communications Services Co., known as solutions, announced that it signed a SR190 million contract with STC Bank to provide managed SMS services.

The two-year contract is expected to have a financial impact on the company’s financial statements starting in the fourth quarter of 2026, solutions said.

The company noted that STC Bank is a related party, as Saudi Telecom Co., known as stc, is the largest shareholder in both companies, holding 79 percent of solutions and 92.3 percent of STC Bank.

Hamad Mohammed Bin Saedan Real Estate Co. signed a non-binding memorandum of understanding with BLOMINVEST Saudi Arabia to establish the “HS Logistics Fund,” with a preliminary project cost of SR325 million, according to a market release.

The Nomu-listed company said the fund plans to develop a roughly 130,276-sq.-meter site in Riyadh into dry and refrigerated logistics warehouses. It will receive an 11.5 percent developer fee based on actual development costs.

The company, whose share price rose 2.22 percent to SR9.20, added that the proposed fund will have a three-year term, extendable by two years, subject to Capital Market Authority approval.

Saudi Fisheries Co. announced that it is studying options to strengthen its financial position and settle outstanding liabilities after shareholders rejected a proposed capital increase through a rights issue, according to a Tadawul filing.

The company said it is considering raising capital in exchange for two state-granted plots of land in Riyadh and Jeddah, which could reduce government liabilities by SR45 million to SR55 million. It added that it is also evaluating asset sales, liability rescheduling and a shift toward food-sector investments.

Saudi Fisheries warned that if it is unable to implement the strategy, either wholly or partially, it may be unable to meet financial obligations to creditors or manage its operations.

SFICO, whose share price edged up 1.57 percent to SR55.10, added that this could lead the company to initiate statutory and legal proceedings, including bankruptcy, liquidation or financial reorganization.

Qassim Cement Co. announced that the General Authority for Competition had issued its no-objection to the completion of the economic concentration resulting from its acquisition of 100 percent of A-Mix Co.

The company, whose share price edged up 0.14 percent to SR44.28, said the no-objection was issued on Oct. 6 and that there had been no change to the transaction consideration previously announced.

Saudi Arabian Refineries Co. announced that its subsidiary, Lawazim Industrial Co., has been awarded a SR7.18 million subcontract to supply and install wooden doors for the National Guard Housing Project in Qassim, according to a regulatory filing.

SARCO, whose share price slipped 0.63 percent to SR55.15, said the contract was awarded by Saudi Binladin Group’s Doors Division, excludes VAT and is expected to be signed on Oct. 18.