Saudi Arabia: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 46.06 points, or 0.39 percent, to close at 11,644.55.

The total trading turnover of the benchmark index was SR5.28 billion ($1.40 billion), as 60 of the listed stocks advanced, while only 193 retreated. 

The MSCI Tadawul Index also decreased, down 3.61 points or 0.24 percent, to close at 1,518.54. 

The Kingdom’s parallel market Nomu lost 262.23 points, or 1.03 percent, to close at 25,221.77. This comes as 22 of the listed stocks advanced, while 58 retreated. 

The best-performing stock was Saudi Industrial Development Co., with its share price surging by 4.83 percent to SR32.10. 

Other top performers included Saudi Enaya Cooperative Insurance Co., which saw its share price rise by 4.14 percent to SR9.06, and Fawaz Abdulaziz Alhokair Co., which saw a 3.08 percent increase to SR24.75. 

On the down side, the worst performer of the day was CHUBB Arabia Cooperative Insurance Co., whose share price fell by 4.39 percent to SR30.50. 

ACWA Power Co. fell 3.70 percent to SR239.50, while Sumou Real Estate Co. dropped 3.70 percent to SR39. 

On the announcements front, Saudi Arabian Amiantit Co. said signed a two-year memorandum of understanding with Saudi Arabia Railways to enhance cooperation in railway infrastructure development. 

According to a Tadawul statement, the signing took place during the Saudi International Railway Exhibition and Conference held in Riyadh. 

The MoU aims to strengthen cooperation between the two parties in developing and upgrading stormwater drainage infrastructure and protecting facilities through the use of GRP pipes, the statement added. 

The two parties agreed to exchange experiences and conduct practical tests in order to contribute to achieving their common interests. 

Saudi Arabian Amiantit Co. said that “there is no financial impact on signing this memorandum.”