https://arab.news/vks2j
RIYADH: Saudi Arabia’s Tadawul All Share Index on Sunday lost 143.21 points — or 1.34 percent — to close at 10,588.58.
MSCI Tadawul 30 Index dropped 1.45 percent to 1,454.10, while the parallel market, Nomu, slipped 0.48 percent to 18,905.15.
TASI’s total trading turnover of the benchmark index was SR3.77 billion ($1 billion), with 46 stocks of the listed 224 advancing and 172 retreating.
The worst performer was Al Yamamah Steel Industries Co., which crashed 5.06 percent to SR22.90. Other stocks that performed poorly were Saudi Printing and Packaging Co., Saudi Arabian Amiantit Co., Halwani Bros. Co. and Arabian Pipes Co. — all falling in the 4 percent range.
Americana Restaurants International PLC was the top gainer, rising 4.76 percent in the week's first trading session to SR3.74.
The other top gainers were Makkah Construction and Development Co., Buruj Cooperative Insurance Co., Amana Cooperative Insurance Co. and Salama Cooperative Insurance Co.
Among sectoral indices, 18 of the 21 listed on the stock exchange declined, while the rest advanced.
The Software & Services Index took the biggest hit plunging 1,104.79 points to close at 39,941.28.
On the announcements front, Etihad Atheeb Telecommunication Co. informed the stock exchange that it booked a net profit of SR13 million in the nine-month period that ended on Dec. 31, 2022, from a net loss of SR 29.2 million in the year-ago period.
The profit was driven by higher revenue, lower allowance for impairment in trade receivables, lower general and administrative expenses, and financial charges.
The telco turned to a net profit of SR 8 million in the third quarter of 2022-2023, against a net loss of SR7.37 million a year earlier. Its share price fell 0.14 percent to SR69.90.
Al Moammar Information Systems announced that it was awarded a project with a legal entity on Jan. 29 for SR42.4 million, including value added tax.
The project includes the renewal of the technical support service for infrastructure systems, and the company expects to sign the contract on Feb. 28, it said in a statement. Its share price fell 0.43 percent to SR93.60.
Meanwhile, Saudi Industrial Investment Group disclosed that the unplanned maintenance works in its subsidiary, Saudi Polymers Co., are still ongoing due to the nature of the mechanical repairs, which require additional downtime to guarantee safe and reliable operations.
SIIG said that it expects to restart its operation a week later. Its share price fell 2.71 percent to SR22.28.
Meanwhile, Batic Investments and Logistics Co.’s fully-owned subsidiary, Batic Real Estate Co., said, on Feb. 2, that it received the approval of Madinah Municipality to develop the Al-Khuzama residential neighborhood community. Its share price stayed flat at SR23.44.