Saudi Arabia: Saudi Arabia’s Tadawul All Share Index slipped on Thursday, losing 15.71 points, or 0.13 percent, to close at 11,886.06. 

The total trading turnover of the benchmark index was SR4.37 billion ($1.16 billion), as 59 of the stocks advanced and 161 retreated. 

The Kingdom’s parallel market Nomu gained 438.38 points, or 1.66 percent, to close at 26,818.29. This comes as 33 of the listed stocks advanced, while 38 retreated. 

The MSCI Tadawul Index lost 0.45 points, or 0.03 percent, to close at 1,494.90. 

The best-performing stock of the day was Rasan Information Technology Co., whose share price surged 10 percent to SR68.20. 

Other top gainers were Arabian Mills for Food Products Co. and Al Taiseer Group Talco Industrial Co., whose share prices surged 2.95 percent and 2.38 percent to SR59.30 and SR56.00, respectively. 

The worst performer was Al-Baha Investment and Development Co. for Industry., whose share price dropped by 6.67 percent to SR0.28. 

Other notable underperformers included Umm Al-Qura Cement Co. and Fawaz Abdulaziz Alhokair Co., with share prices falling 3.78 percent to SR16.30 and 3.31 percent to SR12.86, respectively. 

On the announcements front, Rasan Information Technology Co. released its interim financial results for the period ending Sept. 30. 

According to a statement from Tadawul, the firm recorded a net profit of SR54.93 million in the first nine months of the year, reflecting a 52.6 percent increase compared to the same period in 2023. 

The growth is primarily attributed to a 32.5 percent rise in gross profit year on year, with a profit margin of 60.2 percent compared to 58.7 percent during the same period last year, driven by enhanced operational efficiency and reduced sales costs. 

The increase is linked to a 47.5 percent growth in operating profits compared to the previous year, along with a 40.6 percent rise in earnings before interest, taxes, depreciation, and amortization, achieving a margin of 28.2 percent versus 25.9 percent during the first nine months of 2023. 

Yanbu Cement Co. released its interim condensed consolidated financial results for the period ending Sept. 30. A bourse filing revealed that the firm recorded a net profit of SR129.17 million in the first nine months of the year, reflecting a 26.8 percent increase compared to the same period in 2023. 

The growth is primarily attributed to rising local sales revenues and other income, despite higher administrative, selling, financing, and Zakat expenses. 

In market activity, Yanbu Cement Co. closed the session at SR23.00, down 0.78 percent.