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Closing Bell: Saudi Main Index Rises To Close at 12,209

Closing Bell: Saudi Main Index Rises To Close at 12,209

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 6.28 points, or 0.05 percent, to close at 12,209.06. 

The benchmark index’s total trading turnover was SR7.89 billion ($2.10 billion), as 120 of the listed stocks advanced while 95 retreated.   

On the other hand, the Kingdom’s parallel market Nomu dropped 148.75 points, or 0.58 percent, to close at 25,300.98. This comes as 29 of the listed stocks advanced while as many as 25 retreated. 

Meanwhile, the MSCI Tadawul Index slipped 0.47 points, or 0.03 percent, to close at 1,580.49. 

The best-performing stock of the day was Etihad Atheeb Telecommunication Co. The company’s share price surged 10.00 percent to SR75.90.  

Other top performers include SAL Saudi Logistics Services Co. as well as Arabian Pipes Co. 

The worst performer was Dallah Healthcare Co., whose share price dropped by 3.40 percent to SR176.00. 

Other worst performers were National Medical Care Co. as well as Middle East Healthcare Co. 

On the announcements front, Tanmiah Food Co. has released its annual financial results for the year ended on Dec.31. 

According to a Tadawul statement, the firm’s net profit reached SR75.9 million, reflecting a 59.3 percent drop compared to a year earlier. 

The fall in net profit was mainly attributed to lower subsidy payout, increasing market pricing pressure, and the continued expansion of fresh poultry and Popeyes stores. 

On a similar note, Tihama Advertising and Public Relations Co. has announced its interim financial results for the nine months ending on Dec. 31. A bourse filing revealed that the firm incurred a net loss of SR32.3 million in the first nine months of the year, reflecting a 53.8 percent jump from the loss recorded in the same period in 2022. 

On another note, Etihad Etisalat Co., or Mobily, has announced the board of directors’ recommendation to distribute SR1.11 billion in cash dividends to shareholders for the fiscal year 2023.  

According to a Tadawul statement, the total number of shares eligible for dividends amounted to 770 million, with the dividend per share standing at SR1.45. 

In addition, the statement revealed that the dividend percentage to the share par value stood at 14.5 percent.