Closing Bell: Saudi Main Index Closes Lower at 12,409
Saudi Arabia's Tadawul index falls slightly on Sunday, with notable gains and losses among listed stocks.
Saudi Arabia’s Tadawul All Share Index closed lower on Sunday, losing 5.62 points, or 0.05 percent, to finish at 12,409.87. The total trading turnover reached SR5.09 billion ($1.35 billion), with 108 stocks advancing and 118 declining.
The Kingdom’s parallel market, Nomu, saw a larger drop, falling by 145.58 points, or 0.47 percent, to close at 31,105.07, as 42 stocks advanced and 43 retreated.
However, the MSCI Tadawul Index gained 1.59 points, or 0.10 percent, to close at 1,545.61.Among the top performers, Mutakamela Insurance Co. saw a notable increase of 9.74 percent, closing at SR18.02. Allied Cooperative Insurance Group and Saudi Arabian Cooperative Insurance Co. also saw gains, with their share prices rising by 8.55 percent to SR16 and 7.71 percent to SR17.88, respectively.
Conversely, Thimar Development Holding Co. saw the largest drop, with a 7.5 percent decline to SR53.
Saudi Arabian Amiantit Co. and CHUBB Arabia Cooperative Insurance Co. also experienced declines, with their share prices falling 5.77 percent and 4.26 percent, respectively.Several companies reported their annual financial results for 2024. Multi Business Group Co. announced a net profit of SR10.5 million, marking a 19.06 percent increase from the previous year.
This was driven by higher revenues, improved gross profits, and reduced general expenses.
The company’s stock ended the session at SR18.80, up 10.43 percent.Edarat Communication and Information Technology Co. reported a net profit of SR24.6 million for 2024, a 41.98 percent increase from 2023. The growth was attributed to a rise in gross profit and a decrease in administrative expenses.
The firm’s stock closed at SR671, up 1.55 percent.The National Shipping Co. of Saudi Arabia recorded a net profit of SR2.16 billion, up 34.45 percent from the previous year.
The increase was driven by a higher gross profit and better results from equity investments.
The company’s stock ended at SR29.95, down 0.67 percent.Bank AlJazira reported a net profit of SR1.23 billion, reflecting a 20.69 percent increase compared to 2023. Despite the positive results, the bank’s stock closed lower, down 3.08 percent at SR18.68.Saudi Awwal Bank announced a net profit of SR8.07 billion for 2024, a 15.25 percent increase from 2023, driven by higher operating income.
The bank’s stock ended the session at SR36.40, up 1.95 percent.
The Kingdom’s parallel market, Nomu, saw a larger drop, falling by 145.58 points, or 0.47 percent, to close at 31,105.07, as 42 stocks advanced and 43 retreated.
However, the MSCI Tadawul Index gained 1.59 points, or 0.10 percent, to close at 1,545.61.Among the top performers, Mutakamela Insurance Co. saw a notable increase of 9.74 percent, closing at SR18.02. Allied Cooperative Insurance Group and Saudi Arabian Cooperative Insurance Co. also saw gains, with their share prices rising by 8.55 percent to SR16 and 7.71 percent to SR17.88, respectively.
Conversely, Thimar Development Holding Co. saw the largest drop, with a 7.5 percent decline to SR53.
Saudi Arabian Amiantit Co. and CHUBB Arabia Cooperative Insurance Co. also experienced declines, with their share prices falling 5.77 percent and 4.26 percent, respectively.Several companies reported their annual financial results for 2024. Multi Business Group Co. announced a net profit of SR10.5 million, marking a 19.06 percent increase from the previous year.
This was driven by higher revenues, improved gross profits, and reduced general expenses.
The company’s stock ended the session at SR18.80, up 10.43 percent.Edarat Communication and Information Technology Co. reported a net profit of SR24.6 million for 2024, a 41.98 percent increase from 2023. The growth was attributed to a rise in gross profit and a decrease in administrative expenses.
The firm’s stock closed at SR671, up 1.55 percent.The National Shipping Co. of Saudi Arabia recorded a net profit of SR2.16 billion, up 34.45 percent from the previous year.
The increase was driven by a higher gross profit and better results from equity investments.
The company’s stock ended at SR29.95, down 0.67 percent.Bank AlJazira reported a net profit of SR1.23 billion, reflecting a 20.69 percent increase compared to 2023. Despite the positive results, the bank’s stock closed lower, down 3.08 percent at SR18.68.Saudi Awwal Bank announced a net profit of SR8.07 billion for 2024, a 15.25 percent increase from 2023, driven by higher operating income.
The bank’s stock ended the session at SR36.40, up 1.95 percent.
