JEDDAH: Saudi Arabia’s Tadawul All Share Index declined on Monday, losing 76.78 points, or 0.74 percent, to close at 10,283.96.

Trading activity totaled around 196 million shares worth more than SR3.49 billion ($931 million), with 57 companies advancing and 205 declining.

The parallel market Nomu rose 248.52 points, or 1.15 percent, to close at 21,949.88, with 30 stocks advancing and 29 declining.

The MSCI Tadawul 30 Index fell 11.45 points, or 0.82 percent, to end the session at 1,383.03.

Market movers

Watani Iron Steel Co. was the market’s top gainer, rising 9.77 percent to close at SR2.92.

Filing and Packing Materials Manufacturing Co. climbed 4.53 percent to SR38.78, while Knowledge Economic City increased 3.78 percent to SR22.25.

Saudi Fisheries Co. was the biggest decliner, falling 4.76 percent to close at SR53.05.

Arabian Contracting Services Co. dropped 4.65 percent to SR41, while Bawan Co. decreased 4.31 percent to SR31.54.

Corporate disclosures

SAL Saudi Logistics Services Co. has announced it signed a 36-month agreement with Saudi Post, known as SPL, to handle postal and commercial cargo shipments across the Kingdom, according to a bourse filing.

Under the agreement signed on Oct. 11, SAL said it will manage mail handling, provide dedicated loading units, safeguard shipments during storage and transportation, and coordinate their movement between warehouses, postal facilities, and aircraft.

SAL, whose share price decreased 2.87 percent to SR165.60, added that the agreement’s value will depend on demand for services at the prices specified in the contract, with a positive financial impact expected from the fourth quarter of the current year.

In another market announcement, Saudi Arabian Refineries Co. said its non-binding memorandum of understanding with UAE-based Go Energy to develop a green hydrogen and ammonia project in Saudi Arabia had expired without the parties reaching a binding agreement.

SARCO, whose share price slipped 1.03 percent to SR52.75, noted the expiration would not result in any financial obligations and would have no impact on its financial position or financial results.

Keir International Co. announced it has applied to the Capital Market Authority for approval to reduce its capital to SR33.58 million from SR120 million by cancelling 86.42 million shares to offset accumulated losses of SR86.42 million as of June 30, according to a Tadawul statement.

The Nomu parallel market-listed company, whose share price edged down 1 percent to SR0.99, said the capital reduction remains subject to regulatory approvals, including approval by its extraordinary general assembly, and that it would announce further developments as they arise.

Saudi Darb Investment Co. announced that the Securities Disputes Appeals Committee had rejected a petition to reconsider a final ruling in its favor in a compensation case against six former board members, according to an official release.

The company added that the ruling remains final and enforceable, with SR69.2 million in compensation payable to the company, unchanged by the committee’s decision.

The case concerns the former board members’ term from Feb. 10, 2010, to Feb. 9, 2013, and originally sought SR100 million in compensation.

Saudi Darb, whose shares edged up 1.02 percent to SR1.98, said it was continuing enforcement proceedings through its legal adviser and would disclose any material developments and their financial impact in accordance with the relevant regulations and instructions.

Purity for Information Technology Co. announced it has signed a three-year contract worth up to SR20 million, including VAT, with the General Authority for Awqaf to provide managed network systems and information security services.

The company, whose share price remained unchanged at SR16.50, said the financial impact would be reflected over the fiscal years covered by the project, starting in fiscal year 2026/2027, adding that it would disclose relevant purchase orders in accordance with applicable regulations and rules.