Riyadh Market Report: Tadawul All Share Index Dips
In Riyadh, Saudi Arabia, the Tadawul All Share Index saw a slight dip on Tuesday, losing 14.51 points or 0.12 percent to close at 12,357.99.
Trading Turnover and Performance
The total trading turnover of the benchmark index reached SR7.03 billion ($1.87 billion) with 70 stocks advancing and 150 retreating.
The MSCI Tadawul Index also decreased by 1.42 points or 0.09 percent to close at 1,547.71. Meanwhile, the Kingdom’s parallel market Nomu slipped by 49.36 points or 0.18 percent to close at 26,741.64, with 24 stocks advancing and 28 retreating.
Top Performers and Worst Performers
The best-performing stock of the day was Batic Investments and Logistics Co., with a share price surge of 6.36 percent to SR3.51. Other top performers include Development Works Food Co. Ltd and Electrical Industries Co.
On the flip side, Saudi Real Estate Co. was the worst performer, with its share price dropping by 7.61 percent to SR22.34. Other poor performers included Al-Baha Investment and Development Co. and Americana Restaurants International PLC.
Financial Results Announcements
Americana Restaurants International PLC announced its interim financial results, citing a revenue decline due to geopolitical tensions and shifts in consumer behavior during Ramadan. Net profits also saw a significant decrease.
Saudi Real Estate Co. announced an increase in revenues driven by infrastructure projects and rental revenue, but net profits declined due to higher costs.