Arab News,
Thursday , Jan 09, 2025 | Rajab 9, 1446
Closing Bell: Saudi main index slides to close at 12,088
Saudi Arabia:
Saudi Arabia’s Tadawul All Share Index edged lower
on Wednesday, dropping by 24.55 points, or 0.20 percent, to close at 12,088.74.
The benchmark index saw a trading turnover of SR7 billion ($1.86 billion), with
127 stocks advancing and 112 declining.
The Kingdom’s parallel market, Nomu, also
experienced a slight decline, falling by 32.97 points, or 0.11 percent, to
settle at 30,776.15. Of the stocks listed on Nomu, 41 advanced while 42
retreated.
The MSCI Tadawul Index dropped 7.53 points, or
0.50 percent, to close at 1,506.86.
Among the top performers of the day was Nice One
Beauty Digital Marketing Co., which made its debut on the main market on Jan. 8.
The company’s share price surged by 30 percent, reaching SR45.50.
Other notable gainers included Al-Mawarid Manpower
Co., which saw its stock rise 7.82 percent to SR135.20, and Al-Baha Investment
and Development Co., which saw its share price climb 6.98 percent.
On the downside, National Co. for Learning and
Education recorded the largest drop, falling 4.24 percent to SR185.20. Almoosa
Health Co. also saw a decline of 3.84 percent, ending the session at SR140.40,
while Alinma Retail REIT Fund Yanbu saw a 3.45 percent drop to SR4.76.
On the announcements front, Nice One Beauty
Digital Marketing Co. revealed it is offering 34.65 million shares at SR35 each.
SNB Capital is serving as the lead manager for the offering.
United Electronics Co. announced its estimated
financial results for the year ending Dec. 31, 2024. The company reported a net
profit of SR534.53 million, marking a 36.8 percent increase compared to 2023.
The growth was driven by higher revenues and improved gross profits, thanks to a
better sales mix and expansion in the consumer finance sector, despite an
increase in selling, distribution, and administrative expenses. Extra’s stock
ended the day at SR95.60, up 2.13 percent.
United International Holding Co. also posted its
financial results for the period ending Dec. 31, 2024. The company recorded a
net profit of SR222.38 million, a 4.8 percent increase over the previous year.
This growth was attributed to higher credit loss provisions and increased
selling, general, and administrative expenses. The company’s shares closed at
SR187.80, down 2.60 percent.
Meanwhile, the Kingdom’s Capital Market Authority
announced that Rawasi Albina Investment Co. is planning to issue up to SR500
million in debt instruments. The company's stock finished the session at SR4.35,
down 1.15 percent.