Saudi Stock Market Sees Mixed Performance
Riyadh: The Tadawul All Share Index experienced a slight dip on Sunday, shedding 39.56 points or 0.31 percent, closing at 12,796.09.
Market Turnover and Performance
The total trading turnover for the benchmark index was SR6.58 billion ($1.75 billion) with 82 stocks advancing and 138 retreating.
The Nomu market also saw a decline, dropping 521.88 points or 1.91 percent to close at 26,840.41, as 30 stocks advanced and 27 retreated.
The MSCI Tadawul Index slipped 4.59 points, or 0.28 percent, to close at 1,612.58.
Best and Worst Performers
Saudi Cable Co. was the top-performing stock of the day, with its share price surging by 9.99 percent to SR76.00. Other notable performers included Saudi Arabian Amiantit Co. and CHUBB Arabia Cooperative Insurance Co.
On the flip side, East Pipes Integrated Company for Industry saw the biggest drop, with its share price falling by 6.73 percent to SR144.20.
Financial Announcements
Al Jouf Cement Co. reported a net profit of SR84.71 million for the period ending Dec.31, marking a significant increase compared to the previous year.
Amana Cooperative Insurance Co. also announced positive financial results, with a net profit of SR25.43 million for 2023.
Saudi Arabian Amiantit Co. settled all its obligations to the Saudi National Bank at a 50 percent discount, which will be reflected in the first quarter of 2024.