RIYADH: Saudi Arabia’s main index declined on Tuesday due to concern over oil price shifts and mixed earnings reports.
The Tadawul All Share Index declined 0.97 percent to end at 11,486, while the parallel market, Nomu, dropped 1.28 percent to finish at 19,251.
Saudi oil giant Aramco ended the session 0.14 percent lower, a week after announcing that its profit had surged 39 percent in the third quarter of 2022, surpassing the average of analysts’ forecasts.
Profits at the most profitable oil company in the world hit SR159 billion after revenue soared 51 percent to SR544 billion.
Saudi National Bank, the Kingdom’s largest lender, slipped 2.69 percent, while the Kingdom’s most valuable bank, Al Rajhi, fell 0.12 percent.
BinDawood Holding lost 9.68 percent to lead the fallers, after its profit fell 74 percent to SR60 million in the first nine months of 2022.
ACWA Power Co. shed 3.93 percent, after announcing that its fully owned subsidiary, ACWA Power Management and Investments One Limited , offered to buy cash bonds up to $400 million on the Irish Stock Exchange.
Saudi Airlines Catering Co. dropped 1.67 percent, after it turned into profits of SR150 million during the first nine months of 2022, from SR32 million losses in the prior-year period.
Dallah Healthcare Co. declined 5.08 percent, despite posting a 31 percent gain in profit during the first nine months of 2022, reaching SR196 million.
Dar Alarkan Real Estate Development Co. added 1.20 percent, after it saw its profit surge by 416 percent to SR393 million during the first nine months of the year.
Saudi Kayan Petrochemical Co.shed 0.98 percent, following the signing of a SR3 billion Islamic Sharia-compliant Murabaha revolving credit agreement to improve its working capital.
Alhokair Group for Tourism and Development gainted 2.62 percent, after it managed to narrow its losses by 56 percent in the first nine months of the year to SR54 million.
Emaar the Economic City declined 2.05 percent, as its losses widened by 15 percent to SR627 million in the first nine months of 2022.
Seera Group Holding gained 2.49 percent, after it managed to narrow losses by 75 percent to SR77 million during the first nine months of 2022.
