RIYADH: Saudi Arabia’s Tadawul All Share Index fell 118.23 points, or 1.04 percent, to close at 11,230.20 on Monday, as 95 of the 224 stocks rose while 114 declined.
Its Pharma, Biotech, and Life Sciences index climbed the most with a 3.73 percent rise, while the Utilities and Banking indices fell 1.97 and 1.80 percent, respectively.
While the parallel market Nomu rose 0.83 percent to close at 20,565.73, the MSCI Tadawul Index dropped by 1.87 percent to end at 1,507.29.
The total trading turnover of the benchmark index was SR6.29 billion ($1.68 billion).
Middle East Healthcare Co. was the top performer of the day, as its share price soared 9.93 percent to SR45.95.
Al-Sagr Cooperative Insurance Co. and Anaam International Holding Group also saw gains, with their share prices rising by 5.88 percent and 6.11 percent.
The worst performer was Alamar Foods Co., which dropped 4.61 percent to SR133.
On the announcements front, SHL Finance Co. reported a decrease in net profit of 92.4 percent to SR2.4 million in the first three months of the year, compared to SR32.4 million in the same quarter of 2022. The company attributed the drop in performance to the cost of capital.
It registered sales of SR73.7 million, which equated to a fall of 2.93 percent from the SR75.94 million recorded in the previous year, and its share price closed lower at SR20.02, down from SR20.14.
Saudi Printing and Packaging Co. showed a 367.07 percent increase in net losses to SR15.32 million, compared to losses of SR3.28 million in the same quarter of 2022.
The company also revealed a 10.78 percent increase in revenues to SR210.93 million during the first quarter of 2023 from SR236.4 million during the same period last year. Its share price closed lower at SR18.10 — a 2.06 percent drop from its previous close of SR18.42.
Tabuk Cement Co. announced a net profit of SR19.35 million during the first quarter of 2023 compared to a loss of SR6.92 million in the year-ago period.
The company reported an increase in revenues of 38.76 percent to SR86.28 million in 2023 from SR62.18 in the previous year.
The increase in profits was accredited to multiple factors including a rise in average selling prices and volume sold. The company mentioned that its performance was offset by a rise in both cost of goods sold and the cost of finance. Its share price closed up 1.99 percent at SR15.64.
Al Yamamah Steel Industries Co. recorded a net loss of SR17.89 million during the first quarter of 2023, down from a net profit of SR35.16 million in the year-ago period.
The company also reported a drop of 13.67 percent in revenue to SR387.03 million during the first quarter of 2023, compared to SR448.31 million during the same period last year.
It attributed the loss to a combination of factors including falling average selling prices, quantities sold, and a rise in financing charges.
Its share fell 1.74 percent to close at SR25.
In a Tadawul announcement, Jamjoom Pharmaceuticals Factory Co. said it had set the price range for its initial public offering between SR56 and SR60 per share.
The IPO could raise approximately SR1.26 billion and the institutional book-building period will be between May 15-22.
Alqemam for Computer Systems Co. announced it is issuing Islamic debt that is denominated in Saudi riyals. The announcement states that the first installment will be offered in two issues with a total value of SR3 million. The first issue was offered on May 15, while the second will be available on Aug. 5.
