Saudi Main Index Slips to Close at 10,964
RIYADH: Saudi Arabia's Tadawul All Share Index lost 42.27 points, or 0.38 percent, closing at 10,964.71.
Riyadh - The Kingdom's benchmark stock index dipped on Sunday, reflecting a decline of 0.38% to finish at 10,964.71.
This decrease was accompanied by a total trading turnover of SR3.2 billion ($856 million), underscoring market activity.
In this session, while 65 stocks advanced, a higher number of 182 stocks retreated, indicating mixed sentiment within the market.
The performance of the MSCI Tadawul Index also mirrored this trend, closing at 1,405.02 after a loss of 5.85 points or 0.41%.
The volatility in individual stock performances was evident, with Tourism Enterprise Co. emerging as the day's top gainer.
Its share price surged by 9.2% to SR0.95.
This positive momentum was also observed in National Metal Manufacturing and Casting Co., which saw its shares increase by 9.03% to reach SR16.91, and Arab Sea Information System Co., whose stock rose by 6.27% to SR5.59.
Conversely, several companies experienced declines.
Notably, Fawaz Abdulaziz Alhokair Co., or Cenomi Retail, saw its shares drop significantly by 9.95% to SR29.70.
Additionally, SHL Finance Co.'s stock price fell by 6.99% to SR21.70, and Alandalus Property Co.'s shares declined by 6.31% to reach SR19.90.
Market announcements also played a role in shaping investor sentiment.
Aldrees Petroleum and Transport Services Co. released its interim financial results for the period ending on June 30.
The company reported a net profit of SR99.7 million, reflecting a 20.98% increase compared to the same period last year.
This improvement can be attributed primarily to increased sales in the petrol and transport divisions and higher income from deposits, sukuk, and other sources, despite a decline in returns from joint venture investments.
The company's total comprehensive income for the current quarter also saw an increase compared to the same quarter last year, largely due to the remeasurement of employee-defined benefit obligations.
Aldrees Petroleum and Transport Services Co.'s stock closed at SR129.20, down 0.78%.
Furthermore, Cenomi Retail announced a significant development regarding its shares.
The company informed that it has entered into a share purchase agreement with Al Futtaim Retail Co., wherein substantial shareholders will transfer approximately 57.3 million shares, representing about 49.95% of the company's total share capital, to Al Futtaim in a private transaction valued at SR2.52 billion.
This move underscores the dynamic nature of market transactions and their impact on shareholder distributions.
In other news, the Saudi Exchange has announced that Sport Clubs Co.'s shares will be listed on the main market starting July 22.
This development is expected to further diversify trading activities within the Saudi stock market.
This decrease was accompanied by a total trading turnover of SR3.2 billion ($856 million), underscoring market activity.
In this session, while 65 stocks advanced, a higher number of 182 stocks retreated, indicating mixed sentiment within the market.
The performance of the MSCI Tadawul Index also mirrored this trend, closing at 1,405.02 after a loss of 5.85 points or 0.41%.
The volatility in individual stock performances was evident, with Tourism Enterprise Co. emerging as the day's top gainer.
Its share price surged by 9.2% to SR0.95.
This positive momentum was also observed in National Metal Manufacturing and Casting Co., which saw its shares increase by 9.03% to reach SR16.91, and Arab Sea Information System Co., whose stock rose by 6.27% to SR5.59.
Conversely, several companies experienced declines.
Notably, Fawaz Abdulaziz Alhokair Co., or Cenomi Retail, saw its shares drop significantly by 9.95% to SR29.70.
Additionally, SHL Finance Co.'s stock price fell by 6.99% to SR21.70, and Alandalus Property Co.'s shares declined by 6.31% to reach SR19.90.
Market announcements also played a role in shaping investor sentiment.
Aldrees Petroleum and Transport Services Co. released its interim financial results for the period ending on June 30.
The company reported a net profit of SR99.7 million, reflecting a 20.98% increase compared to the same period last year.
This improvement can be attributed primarily to increased sales in the petrol and transport divisions and higher income from deposits, sukuk, and other sources, despite a decline in returns from joint venture investments.
The company's total comprehensive income for the current quarter also saw an increase compared to the same quarter last year, largely due to the remeasurement of employee-defined benefit obligations.
Aldrees Petroleum and Transport Services Co.'s stock closed at SR129.20, down 0.78%.
Furthermore, Cenomi Retail announced a significant development regarding its shares.
The company informed that it has entered into a share purchase agreement with Al Futtaim Retail Co., wherein substantial shareholders will transfer approximately 57.3 million shares, representing about 49.95% of the company's total share capital, to Al Futtaim in a private transaction valued at SR2.52 billion.
This move underscores the dynamic nature of market transactions and their impact on shareholder distributions.
In other news, the Saudi Exchange has announced that Sport Clubs Co.'s shares will be listed on the main market starting July 22.
This development is expected to further diversify trading activities within the Saudi stock market.
