Saudi Tadawul Index Gains as Companies Expand Partnerships

The Saudi Arabia Tadawul All Share Index (TASI) closed higher on Sunday, gaining 0.78 percent to finish at 10,681.84. The session saw a total trading turnover of SR2.48 billion, with the parallel market Nomu and the MSCI Tadawul Index also recording gains. Naseej International Trading Co. emerged as the top performer of the day, while Tabuk Agricultural Development Co. experienced the most significant decline.

Corporate activity was marked by expansion and financing efforts. WSM for Information Technology Co. announced plans to launch a public sukuk offering on the Saudi Exchange. In the food sector, Tanmiah Food Co. signed a memorandum of understanding with Malaysia's Tradewinds (M) Berhad to collaborate on halal protein products targeting Malaysia and the Asia-Pacific region.

Additionally, Saudi Arabian Refineries Co. reported that its subsidiary, Lawazem Industrial Advanced Co., secured a SR3.4 million subcontract for the Banan Package 1 Project.