Closing Bell: Saudi Main Index Slips To Close at 10,964

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, losing 42.27 points, or 0.38 percent, to close at 10,964.71.

The total trading turnover of the benchmark index was SR3.2 billion ($856 million), as 65 of the stocks advanced and 182 retreated. 

The Kingdom’s parallel market Nomu lost 132.37 points, or 0.48 percent, to close at 27,162.60. This comes as 27 of the listed stocks advanced while 51 retreated. 

The MSCI Tadawul Index lost 5.85 points, or 0.41 percent, to close at 1,405.02. 

The best-performing stock of the day was Tourism Enterprise Co., whose share price rose 9.2 percent to SR0.95. 

Other top performers included National Metal Manufacturing and Casting Co., whose share price rose 9.03 percent to SR16.91 , and Arab Sea Information System Co., whose share price increased 6.27 percent to SR5.59.

Fawaz Abdulaziz Alhokair Co., or Cenomi Retail, recorded the most significant drop, falling 9.95 percent to SR29.70.

SHL Finance Co. also saw its stock price fall 6.99 percent to SR21.70.

Alandalus Property Co. witnessed a decline of 6.31 percent to SR19.90.

On the announcements front, Aldrees Petroleum and Transport Services Co. disclosed its interim financial results for the period ending on June 30. 

According to a Tadawul statement, the firm recorded a net profit of SR99.7 million during the second quarter of the year, reflecting a 20.98 percent increase compared to the same period a year earlier.

The climb is mainly attributed to higher sales in the petrol and transport divisions, along with increased income from deposits, sukuk, and other sources, despite a decline in returns from the joint venture investment.

Marketing, selling, general, and administrative financing costs, along with Zakat expenses, have all risen. 

The total comprehensive income for the current quarter increased compared to the same quarter last year, primarily due to the remeasurement of employee-defined benefit obligations.

Aldrees Petroleum and Transport Services Co. ended the session at SR129.20, down 0.78 percent.

Cenomi Retail announced that it has been notified by a number of its substantial shareholders regarding the signing of a share purchase agreement with Al Futtaim Retail Co. for the sale of part of their stake in Cenomi Retail to Al Futtaim. 

According to a bourse filing, under the terms of the deal, the selling shareholders will transfer 57.3 million shares, representing 49.95 percent of the company’s total share capital, to Al Futtaim in a private transaction valued at SR2.52 billion, with each share priced at SR44.

Saudi Exchange has also announced the listing of Sport Clubs Co. shares on the main market on July 22.