RIYADH: Saudi Arabia’s Tadawul All Share Index slipped slightly on Thursday as it shed 16.89 points, or 0.15 percent, to close at 11,516.14.
The total trading turnover of the benchmark index was SR9.25 billion ($2.47 billion), as 89 stocks advanced, while 116 retracted.
The Kingdom’s parallel equity market, Nomu, continued its spectacular performance for the third consecutive day as it soared 2,048.72 points, or 8.21 percent, to reach 26,977.60.
The MSCI Tadawul Index, however, dropped 0.05 percent to close at 1,518.74.
The best performer of the day was Sadr Logistics Co., whose share price soared 9.95 percent to SR4.86.
Other top gainers include Thob Al Aseel Co. and Arabian Shield Cooperative Insurance Co., whose share prices surged by 5.92 percent and 5.71 percent, respectively.
The worst performer was Alinma Tokio Marine Co., with the company’s share price dipping 9.93 percent to SR15.96.
Future Care Trading Co. drove Nomu’s performance on Thursday, as the firm’s share price soared 30 percent to SR45.50.
Another top gainer on the parallel market was Banan Real Estate Co., whose share price increased 30 percent to SR8.58.
On the announcements front, the board of directors of Saudi Basic Industries Corp. approved an 18 percent cash dividend for the first half of 2023 at SR1.8 per share.
Earlier in May, SABIC had reported a 127.59 percent increase in net profit in the first quarter of the year compared to the last three months of 2022.
Meanwhile, Saudia Dairy and Foodstuff Co. reported a 49 percent rise in its net profit to SR310.46 million in the fiscal year that ended on March 31, 2023, compared to the net profit of SR209.05 million a year earlier.
In a statement to Tadawul, SADAFCO noted that this leap in profit was driven by a 22 percent year-over-year increase in sales volume.
