https://arab.news/5wh29
RIYADH: Saudi Arabia’s benchmark index started the week’s final session higher as investors digest another wave of corporate earnings results for the first half.
TASI edged 0.39 percent higher at 12,479, while the parallel Nomu market added 0.15 percent at 22,261, as of 10:07 a.m. Saudi time.
Astra Industrial Group climbed 4.39 percent to lead the gainers, after its first-half profit soared 202 percent to SR318 million ($85 million).
Saudi Co. for Hardware slipped 3.56 percent to lead the fallers, after it turned into losses of SR19 million during the first half of 2022.
ACWA Power added 1.15 percent, after it recorded a 21 percent jump in profits to SR542 million for the first half of 2022.
Saudi Arabian Mining Co., better known as Ma’aden, gained 2.18 percent, after its first-half profit soared 232 percent to SR6.2 billion.
Saudi Vitrified Clay Pipes Co. declined 1.53 percent, after its net losses widened by 661 percent to SR9 million during the first half of 2022.
Saudi Industrial Services Co. shed 1.39 percent, after earning SR3.9 million in the first half of 2022, down 93 percent from the same period last year.
Saudi Electricity Co. rose 0.39 percent, after it obtained an international syndicated loan of $3 billion.
Eastern Province Cement Co. gained 0.55 percent, despite a 41 percent drop in profit to SR72 million in the first half.
Savola Group added 0.59 percent, after it entered an SR459 million agreement to sell its shares in Knowledge Economic City Co. and Knowledge Economic City Developers Co. Limited.
Following the announcement, shares of Knowledge Economic City increased by 1.10 percent.
The Kingdom’s largest valued bank Al Rajhi added 1.03 percent, while the Kingdom’s oil giant Saudi Aramco started the day with a 0.25 percent increase.