RIYADH: Saudi Arabia’s Tadawul All Share Index shed 53.42 points, or 0.47 percent, on Tuesday to close at 11,275.77.
The parallel market Nomu, which lost 183.81 points on Monday, rose by 230.64 points to close at 20,834.64 on May 23. The MSCI Tadawul Index dropped 0.73 percent to 1,509.98.
The total trading turnover of the benchmark index was SR6.64 billion ($1.77 billion).
East Pipes Integrated Co. for Industry was the top performer as its share price surged 7.55 percent to SR65.50.
Saudi Fisheries Co. and Bawan Co. also gained well; their share prices jumped 5.57 percent and 4.33 percent, respectively.
The worst performer of the day was Ayyan Investment Co. which saw its share price dipping 6.71 percent to SR18.64.
On the announcements front, BinDawood Holding revealed that its net profit fell 20.25 percent in the first quarter to SR52.20 million, compared to SR65.45 million in the same period a year ago. The company’s share price dropped 2.69 percent to SR68.80.
Meanwhile, Abdulmohsen Alhokair Group for Tourism and Development announced that its net loss deepened in the first quarter to SR34.34 million, from SR31.99 million in the same quarter of 2022. Driven by the reported loss, the firm’s share price dropped 1.79 percent to SR27.40.
Thimar Development Holding Co. turned to a net loss of SR784,636 in the first quarter of 2023 from a net profit of SR2.55 million in the same quarter of 2022. The company attributed the loss to a 5 percent drop in year-on-year revenue. Its share price dropped 2.14 percent to SR36.55.
Al Abdullatif Industrial Investment Co. widened its net loss in the first quarter to SR20 million, from the SR11 million net loss it incurred in the first quarter of last year. The company’s share price slipped 2 percent to SR19.58. Al Gassim Investment Holding Co. reported a net profit of SR560,611 in the first quarter, compared to a net loss of SR469,177 in the same period last year. Driven by the positive performance, the company’s share price inched up 0.39 percent to SR25.5.
Kingdom Holding Co. also announced its financial results on Tuesday. The company reported a 97.1 percent plunge in net profit for the first quarter of 2023 to SR171.1 million, compared to SR5.9 billion in the same quarter a year ago. Its share price fell 0.98 percent to SR8.1.
Arabian Centers Co., also known as Cenomi Centers, reported that its net profit for the first quarter went up 125.71 percent to SR388 million, compared to SR171.9 million for the first quarter of 2022. However, the company’s share price dropped 0.28 percent to SR21.4.
Seera Group Holding announced that its net profit hit SR57 million in the first quarter of 2023, compared to the SR63 million net loss in the same quarter last year. The share prices of the firm edged up 0.57 percent to SR26.55.
