Closing Bell: Saudi Main Index Rises To Close at 11,271

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 3.58 points, or 0.03 percent, to close at 11,271.96. 

The total trading turnover of the benchmark index was SR4.27 billion ($1.13 billion), as 142 stocks advanced and 114 declined. 

On the other hand, the Kingdom’s parallel market Nomu lost 27.59 points, or 0.12 percent, to close at 22,524.08, with 40 stocks advancing and 41 declining. 

The MSCI Tadawul Index lost 0.53 points, or 0.03 percent, to close at 1,516. 

The best-performing stock of the day was Saudi Arabian Amiantit Co., whose share price surged 9.99 percent to SR15.63. 

Other top performers included Development Works Food Co., whose share price rose 9.97 percent to SR98.20, as well as Methanol Chemicals Co., whose share price surged 9.89 percent to SR9.11. 

Emaar The Economic City recorded the biggest decline, falling 7.64 percent to SR10.88. 

Saudi Energy Co. also saw its stock price fall 4.35 percent to SR16.50. 

East Pipes Integrated Co. for Industry declined 3.72 percent to SR165.60. 

On the announcement front, Almarai Co. announced its interim condensed consolidated financial results for the period ending March 31.

 According to a Tadawul statement, the firm recorded a net profit of SR732 million during the first three months of the year, up 0.14 percent from the same period a year earlier.  

Almarai Co. ended the session at SR44.00, up 1.23 percent. 

On another note, the Capital Market Authority approved Seera Group Holding’s application to reduce its capital from SR3 billion to SR2.74 billion by canceling a total of 25.9 million ordinary treasury shares, including 2.03 million shares allocated under the Employee Stock Program. This represents a total reduction of 8.65 percent of the company’s capital prior to the reduction. 

The capital reduction will be effective at the end of the second trading day following the extraordinary general assembly meeting at which the reduction is approved. 

Seera Group Holding ended the session at SR20.99, up 2.44 percent.