Arab News, Tue, Oct 29, 2024 | Rabi al-Thani 26, 1446
Closing Bell: Saudi main index slips to close at 12,053
Saudi Arabia:
Saudi Arabia’s Tadawul All Share Index dipped on
Monday, losing 15.82 points, or 0.13 percent, to close at 12,053.15.
The total trading value of the benchmark index was
SR5.42 billion ($1.44 billion), as 106 stocks advanced, while 111 retreated.
The MSCI Tadawul Index decreased by 4.31 points,
or 0.28 percent, to close at 1,513.26.
The Kingdom’s parallel market, Nomu, declined by
114.24 points, or 0.42 percent, to close at 26,802.7. This comes as 31 stocks
advanced, while 34 retreated.
The best-performing stock of the day was Red Sea
International Co., with its share price surging by 8.32 percent to SR70.30.
Other top performers included Zamil Industrial
Investment Co., which saw its share price rise by 5.59 percent to SR27.40, and
Arabian Contracting Services Co., which saw a 4.33 percent increase to SR178.4.
Etihad Etisalat Co., also known as Mobily, and
Abdulmohsen Alhokair Group for Tourism and Development also saw a positive
change at 3.65 percent and 3.6 percent to SR54 and SR2.88, respectively.
The worst performer of the day was Al-Baha
Investment and Development Co., whose share price fell by 7.69 percent to
SR0.24.
Saudi Manpower Solutions Co. and Nama Chemicals
Co., also saw declines, with their shares dropping by 3.03 percent and 3.02
percent to SR8.31 and SR25.7, respectively.
Miahona Co. and MBC Group also saw negative change
today at 2.99 percent and 2.84 percent to SR27.55 and SR41.1, respectively.
On the announcements front, Saudi Ceramic Co.
reported its interim financial results for the nine months ending Sept. 30, with
a net profit of SR10.78 million, a recovery from a SR120.56 million loss in the
same period last year.
The improvement was attributed to increased sales
that bolstered gross profit, along with the absence of a SR165 million provision
for fire-related losses recorded last year. The company’s stock closed at
SR31.75, up by 0.79 percent.
Balady Poultry Co. announced a net profit of
SR99.98 million for the nine-month period ending Sept. 30, marking a 55.72
percent increase from the previous year.
According to the statement, the increase was
linked to a rise in production from 156,000 to 192,000 birds during this period.
The stock closed the session at SR389, reflecting a 0.92 percent decline.
The National Co. for Glass Industries reported net
profits of SR74.8 million for the same period, a 244.7 percent increase year
over year.
The growth is largely due to increased profit
contributions from joint ventures in the float glass sector, notably from The
Saudi Guardian International Float Glass Co. Ltd., which is now fully
operational. The company’s shares ended the session at SR55.2, a rise of 2.79
percent.