Saudi Arabia: Saudi Arabia’s Tadawul All Share Index continued its downward trend for the second consecutive day on Tuesday as it shed 27.67 points or 0.24 percent to close at 11,717.96. 

The total trading turnover of the benchmark index was SR7.70 billion ($2.05 billion), with 122 stocks advancing and 116 declining. 

Saudi Arabia’s parallel market Nomu also shed 268.15 points to close at 30,763.22. 

The MSCI Tadawul index declined by 0.25 percent to 1,483.35. 

The best-performing stock on the main market was Riyadh Cables Group Co. The company’s share price increased by 10 percent to SR129.80. 

The share price of Batic Investments and Logistics Co. also edged up by 6.34 percent to SR2.85.

Al-Baha Investment and Development Co. also saw its stock price rising by 5.88 percent to SR0.36. 

Conversely, the share price of Arabian Contracting Services Co. declined by 5.12 percent to SR129.80. 

On the announcements front, Mohammed Hadi Al Rasheed and Partners Co. said that its net profit for 2024 reached SR80.74 million, representing a rise of 80.58 percent compared to 2023. 

In a Tadawul statement, the company said that the rise in net profit was driven by an increase in sales and customers amid expansion in line with the company’s strategy.

Despite posting an increase in profit, the share price of Mohammed Hadi Al Rasheed and Partners Co. declined by 9.04 percent to SR142.80. 

Twareat Medical Care Co. said that its net profit witnessed a rise of 65.98 percent year on year to reach SR23.5 million. 

The healthcare firm added that its overall revenue also rose by 23.97 percent year on year in 2024, driven by improved sales strategies, new service contracts in areas like NEOM, Jubail, and Jafurah, and expanding medical services for existing clients.

Twareat Medical Care Co.’s board of directors also recommended dividends at SR0.25 per share for 2024. 

The share price of  the company edged up by 6.53 percent to SR22.50. 

Arabian Centers Co., also known as Cenomi Centers said that the firm’s net profit for 2024 stood at SR1.22 billion, representing a decline of 18.44 percent compared to 2023. 

In a Tadawul statement, Cenomi Centers revealed that its overall revenue reached SR2.34 billion in 2024, marking a year on year rise of 4.01 percent. 

It also announced that its board of directors has decided to pay a dividend of SR0.37 per share for the third quarter of 2024. 

The share price of Cenomi Centers edged up by 1.29 percent to SR20.36. 

Walaa Cooperative Insurance Co. said that it witnessed a net profit of SR64.30 million in 2024, representing a 56.55 percent decline compared to 2023.