RIYADH: Saudi Arabia’s Tadawul All Share Index remained stable on Sunday, with a slight increase of 7.63 points, or 0.07 percent, to close at 11,715.50 points.
The total value traded during the day was SR6.75 billion ($1.8 billion), with Bawan Co., Equipment House, and Al Mawarid Manpower Co. being the top performers of the day.
The market witnessed 96 stocks advance and 122 retreat, with the three worst performers being Salama Cooperative Insurance Co., Al Baha Investment and Development Co. and Thimar Development Co.
Parallel market Nomu surged 150.67 points, or 0.65 percent, to close at 23,191.43 with 24 gainers and 26 losers.
On the other hand, MSCI Tadawul 30 Index rose by 1.88 points, or 0.12 percent, to close at 1,541.99 points.
From Sunday’s announcements, Jarir Marketing Co., a Saudi-based retailing chain, declared its financial results for the first half of 2023 with a decrease in profits compared to the same period last year.
According to its bourse filing, Jarir pursued a discounting strategy in the first half of the year, which led to an increase in sales of 19.9 percent to SR5.15 billion, compared with SR4.29 billion in the same period last year.
However, the increase in sales with discounted prices led to a decrease of 1.8 percent in year-on-year gross profit to SR563.3 million in the first half of 2023, compared with SR573.6 million during the same period last year.
Jarir stocks closed with a decrease of 1.57 percent on Sunday, with 2.22 million traded.
On the other hand, Saudi Arabia’s diary giant Almarai Co. registered an increase in its financial results for the first half of the year with SR9.85 billion in revenue and SR1.19 billion in net profit, an annual growth of 8.17 and 26.71 percent, respectively.
Almarai’s increase in revenue was mainly driven by its poultry and dairy businesses, according to an announcement on Tadawul.
Furthermore, the company witnessed a slight decline in its financial figures in the second quarter of 2023 compared to the quarter before, as revenue decreased by 5.41 percent and net profit by 12.28 percent.
The company’s share price fell 1.8 percent to SR65.50.
