Saudi Stock Market Reports Decline in Tadawul All Share Index
In a downward trend, Saudi Arabia’s Tadawul All Share Index saw a decrease of 42.09 points, or 0.33 percent, closing at 12,565.89 on Thursday. The total trading turnover for the benchmark index amounted to SR10.53 billion ($2.8 billion), with 54 stocks advancing and 170 retreating.
Nomu Market Also Experiences Drop
Similarly, the Kingdom’s parallel market, Nomu, witnessed a decline of 385.72 points, or 1.43 percent, closing at 26,622.88. While 20 stocks advanced, 42 stocks retreated during this period.
Positive Movement in MSCI Tadawul Index
On a positive note, the MSCI Tadawul Index rose by 7.54 points, or 0.47 percent, closing at 1,599.02. The standout performer of the day was Modern Mills for Food Products Co., with their share price surging by 9.46 percent to SR68.30.
Financial Results Announced by Red Sea International Co.
Red Sea International Co. revealed its annual consolidated financial results for the period ending Dec. 31. The company reported revenues of SR1.37 billion in 2023, marking a significant increase of 241 percent compared to the previous year.
Rise in Net Profits for Riyadh Steel Co. and Al-Baha Investment and Development Co.
Riyadh Steel Co. announced a net profit of SR11.14 million for 2023, showing a rise of 118.8 percent compared to the previous year. Meanwhile, Al-Baha Investment and Development Co. reported a net profit of SR4.94 million in 2023, a notable improvement from the net loss recorded in 2022.