Closing Bell: Saudi Main Index Rises To Close at 11,078

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 124.22 points, or 1.13 percent, to close at 11,078.68. 

The total trading turnover on the benchmark index was SR4.57 billion ($1.21 billion), with 184 stocks advancing and 64 declining. 

Similarly, the Kingdom’s parallel market Nomu gained 74.96 points, or 0.35 percent, to close at 21,646.82, with 42 stocks advancing and 31 declining. 

The MSCI Tadawul 30 Index gained 17.60 points, or 1.20 percent, to close at 1,490.13.  

Top gainers, losers  

The best-performing stock of the day was Saudi Vitrified Clay Pipes Co., whose share price surged 9.98 percent to SR19.40. 

Other top performers included National Shipping Co. of Saudi Arabia, whose share price rose 9.45 percent to SR37.30, and Saudi Azm for Communication and Information Technology Co., whose share price surged 6.91 percent to SR25.08.  

Morabaha Marina Financing Co. recorded the biggest decline, falling 4.74 percent to SR8.04. 

Jadwa REIT Al Haramain Fund fell 2.62 percent to SR4.84, while Tabuk Agricultural Development Co. declined 2.27 percent to SR9.03.  

Top announcements  

Alshehili Co. for Metal Industries reported a net profit of SR2.33 million for the six months ended June 30, down 56.7 percent from the same period a year earlier, according to a Tadawul filing. 

The decline was mainly due to lower gross profit resulting from a drop in revenue, as well as lower other income and higher zakat expenses. 

These effects were partially offset by lower general and administrative expenses and finance costs, the company said. 

Revenue fell 37.3 percent to SR21.1 million from SR33.6 million a year earlier, while earnings per share declined to SR0.93 from SR2.22. 

Alshehili ended the session at SR51.15, down 8.18 percent. 

Acwa signed three storage services agreements with the Saudi Power Procurement Co. for the Kahafah, Haden and Al-Muwaih Independent Storage Projects, three large-scale battery energy-storage projects in Saudi Arabia’s Hail and Makkah provinces. 

Acwa ended the session at SR188.60, up 1.18 percent.