Saudi Stock Market Sees Positive Movement
In Riyadh, the Tadawul All Share Index showed growth on Sunday, closing at 12,373.11 with a 0.17 percent increase of 20.78 points.
Market Activity and Gainers
Trading turnover reached SR5.26 billion ($1.4 billion) with 92 stocks advancing and 129 declining. The Nomu market also saw an increase of 1.26 percent, closing at 26,790.15 with 27 stocks advancing.
The MSCI Tadawul Index closed at 1,551.76, showing a 0.29 percent increase of 4.56 points. Zahrat Al Waha for Trading Co. was the top performer of the day, with a share price surge of 9.97 percent to SR47.45.
Top Performers and Decliners
Other top performers included Raydan Food Co. and Saudi Cable Co., while Gulf Insurance Group was the worst performer of the day, experiencing a share price drop of 9.94 percent to SR34.90. Al-Baha Investment and Development Co. and Salama Cooperative Insurance Co. also showed subdued performance.
Financial Results Announcements
Saudi Tadawul Group Holding Co., National Agricultural Development Co., Gulf Insurance Group, Saudi Aramco Base Oil Co. (Luberef), and Saudi Cable Co. all announced their interim financial results for the first quarter of the year.
Saudi Tadawul Group Holding Co. reported a net profit of SR201.5 million, a 121 percent increase from the previous year. National Agricultural Development Co. saw a net profit of SR101.3 million, up 168 percent from the same period in 2023.
However, Gulf Insurance Group reported a net loss of SR20.2 million, contrasting with a net profit of SR56.6 million from the previous year. Saudi Aramco Base Oil Co. experienced a 46.3 percent drop in net profit, and Saudi Cable Co. showed a significant improvement in net profit, reporting SR36.5 million in the first three months of 2024.