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Saudi Main Index Rises to Close at 11,760 Amid Mixed Market Performance
The Tadawul All Share Index posts a gain of 0.43%, while the parallel market Nomu declines.
Saudi Arabia’s Tadawul All Share Index increased on Thursday, closing up by 50.89 points, or 0.43 percent, at 11,760.32. The total trading turnover for the benchmark index reached SR5.89 billion ($1.57 billion), with 123 of the listed stocks advancing and 109 recording declines.
The MSCI Tadawul Index also witnessed an uptick, gaining 6.13 points, or 0.41 percent, to close at 1,490.20. Conversely, the Kingdom’s parallel market, Nomu, experienced a downturn, decreasing by 162.11 points, or 0.53 percent, to close at 30,521.53, where 43 stocks rose and 31 fell.
Rabigh Refining and Petrochemical Co. emerged as the top performer, with its stock price rising by 9.87 percent to SR7.68. Other notable gainers included Retal Urban Development Co., which saw its shares increase by 4.96 percent to SR16.50, and Ades Holding Co., whose stock grew by 4.38 percent to SR16.70.
In contrast, Sinad Holding Co. experienced the most significant loss of the day, with a decrease of 6.91 percent to SR12.40. Gulf General Cooperative Insurance Co. and SICO Saudi REIT Fund also posted declines, with their shares dropping by 6.19 percent to SR9.55 and 5.18 percent to SR3.66, respectively.
In corporate news, Amwaj International Co. reported its financial results for 2024, showing net profits of SR6.3 million, down 60.1 percent compared to the previous year.
The decline was attributed to restructuring efforts relating to inventory and marketing to adapt to new technologies with higher demand and profit margins.
The company signaled optimism for 2025, stating that the introduction of new products would positively influence sales and financial outcomes.
Additionally, Gulf General Cooperative Insurance Co. announced annual revenues of SR414.3 million, a 31.2 percent increase from SR315.6 million in the prior year, primarily due to growth in its motor insurance sector.
Despite improved revenues, the company’s shares declined by 6.19 percent in Thursday's session.
Saudi Printing and Packaging Co. disclosed an increase in its net loss for the previous year, which expanded to SR219.4 million from SR132.3 million due to provisions for credit losses and impairments in assets.
On the trading floor, the company's shares fell by 2.43 percent to SR10.42.
Furthermore, the Saudi Industrial Investment Group announced a proposal for a share buyback of up to 11 million ordinary shares, pending approval at its Extraordinary General Assembly.
This move aims to retain 10 million shares as treasury stock while allocating 1 million shares for employee incentive programs.
The buyback is set to be financed through internal resources, and any acquired shares will not have voting rights in General Assembly meetings.
In Thursday's trading session, SIIG’s shares rose by 1.72 percent to close at SR15.36.
The MSCI Tadawul Index also witnessed an uptick, gaining 6.13 points, or 0.41 percent, to close at 1,490.20. Conversely, the Kingdom’s parallel market, Nomu, experienced a downturn, decreasing by 162.11 points, or 0.53 percent, to close at 30,521.53, where 43 stocks rose and 31 fell.
Rabigh Refining and Petrochemical Co. emerged as the top performer, with its stock price rising by 9.87 percent to SR7.68. Other notable gainers included Retal Urban Development Co., which saw its shares increase by 4.96 percent to SR16.50, and Ades Holding Co., whose stock grew by 4.38 percent to SR16.70.
In contrast, Sinad Holding Co. experienced the most significant loss of the day, with a decrease of 6.91 percent to SR12.40. Gulf General Cooperative Insurance Co. and SICO Saudi REIT Fund also posted declines, with their shares dropping by 6.19 percent to SR9.55 and 5.18 percent to SR3.66, respectively.
In corporate news, Amwaj International Co. reported its financial results for 2024, showing net profits of SR6.3 million, down 60.1 percent compared to the previous year.
The decline was attributed to restructuring efforts relating to inventory and marketing to adapt to new technologies with higher demand and profit margins.
The company signaled optimism for 2025, stating that the introduction of new products would positively influence sales and financial outcomes.
Additionally, Gulf General Cooperative Insurance Co. announced annual revenues of SR414.3 million, a 31.2 percent increase from SR315.6 million in the prior year, primarily due to growth in its motor insurance sector.
Despite improved revenues, the company’s shares declined by 6.19 percent in Thursday's session.
Saudi Printing and Packaging Co. disclosed an increase in its net loss for the previous year, which expanded to SR219.4 million from SR132.3 million due to provisions for credit losses and impairments in assets.
On the trading floor, the company's shares fell by 2.43 percent to SR10.42.
Furthermore, the Saudi Industrial Investment Group announced a proposal for a share buyback of up to 11 million ordinary shares, pending approval at its Extraordinary General Assembly.
This move aims to retain 10 million shares as treasury stock while allocating 1 million shares for employee incentive programs.
The buyback is set to be financed through internal resources, and any acquired shares will not have voting rights in General Assembly meetings.
In Thursday's trading session, SIIG’s shares rose by 1.72 percent to close at SR15.36.