https://arab.news/c4e73
RIYADH: Saudi Arabia’s Tadawul All Share Index continued its downward trend on Tuesday, losing 56.43 points or 0.52 points to close at 10,849.05.
Parallel market Nomu edged up 73.42 points or 0.37 percent to 20,112.57, while the MSCI Tadawul 30 Index dipped 0.64 percent to 1472.18.
The total trading turnover of the benchmark index was SR5.10 billion ($1.36 billion).
The top gainer of the day was Allied Cooperative Insurance Group, as its share prices went up by 7.26 percent to SR13.30.
Other top performers of the day were Perfect Presentation for Commercial Services Co. and Thimar Development Holding Co., whose share prices increased by 4.65 percent and 3.41 percent, respectively.
Meanwhile, Perfect Presentation for Commercial Services Co.’s board of directors proposed splitting the stock’s nominal value from SR10 to SR1 per share.
The company indicated that the number of shares would increase from 15 million to 150 million, according to a Tadawul statement.
The worst performer of the day was Middle East Specialized Cables Co., as its shares went down 5.29 percent.
Al-Baha Investment and Development Co. and Sadr Logistics Co. were the worst performers, whose share prices dipped by 4.91 percent and 3.81 percent, respectively.
On Tuesday, Saudi Arabian Amiantit Co. announced its financial results for the first quarter of 2023. The company announced that it turned to a net profit of SR2 million in the first quarter from a net loss of SR6 million a year earlier.
In a Tadawul statement, Saudi Arabian Amiantit Co. attributed the rise in profit to continued sales growth, an increase in new orders and rationalizing and controlling operating costs.
Meanwhile, the share prices of Mayar Holding, which debuted on the parallel market Nomu with a base price of SR70, went down by 10.29 percent to close at SR62.80.