Saudi Stock Market Sees Mixed Performance
In Riyadh, the Tadawul All Share Index experienced a slight dip on Monday, shedding 54.03 points, or 0.44 percent, to close at 12,121.40. The trading turnover for the benchmark index reached SR6.90 billion ($1.84 billion) with 69 stocks advancing and 150 retreating.
Market Highlights
The MSCI Tadawul Index also saw a decrease of 5.19 points, or 0.34 percent, closing at 1,519.30. Meanwhile, the Nomu market in the Kingdom increased by 10.08 points, or 0.04 percent, to finish at 26,513.06, with 28 stocks advancing and 31 declining.
Top Performers
Kingdom Holding Co. was the standout performer of the day, with its share price surging by 9.50 percent to SR9.80. Other notable gainers included Saudi Automotive Services Co. and Tanmiah Food Co., whose share prices saw increases of 6.14 percent and 3.43 percent, respectively.
Notable Declines
On the flip side, Bawan Co. experienced the biggest drop, with its share price falling by 4.25 percent to SR47.30. Other decliners included Buruj Cooperative Insurance Co. and City Cement Co.
Announcements Impacting the Market
Arabian Cement Co. reported a decrease in sales but a surge in net profit for the first half of the year. On the other hand, Arabian Pipes Co. saw significant revenue and profit increases due to improved production efficiency and cost management.