RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Wednesday, losing 16.08 points, or 0.14 percent, to close at 11,752.63.
The total trading turnover of the benchmark index was SR5.56 billion ($1.48 billion) as 83 of the 228 listed stocks advanced, while 126 retreated.
However, the Kingdom’s parallel market Nomu rose 137.43 points, or 0.6 percent, to close at 23,089.66.
The best-performing stock of the day was Arabian Contracting Services Co. The company’s share price surged 6.29 percent to SR189.2.
Other top performers included Al-Baha Investment and Development Co. as well as Saudi Enaya Cooperative Insurance Co., whose share prices soared by 5.88 percent and 5.15 percent, respectively.
The worst performer was Rabigh Refining and Petrochemical Co., whose share price dropped by 2.91 percent to SR10.66.
In Nomu, Mayar Holding Co. was the top gainer with its share price rising by 14.03 percent to SR103.2.
Another big gainer in Nomu was Future Care Trading Co. whose share price soared by 9.82 percent to SR13.2.
Alwasail Industrial Co. was the major loser on Nomu, as the company’s share price dropped by 5.89 percent to SR23.
The share price of Al-Razi Medical Co. also fell by 3.81 percent to SR68.1.
On the announcements front, Riyad Bank said its net income saw a 26.5 percent surge in the first half of 2023 to hit SR4 billion, up from SR3.16 billion in the same period last year.
According to a Tadawul statement, the bank’s net income jumped 23 percent in the second quarter of 2023 to hit SR1.98 billion, up from the SR1.6 billion recorded in the same quarter in 2022.
In addition to this, the bank’s net income dropped 1.8 percent in the second quarter when compared to the SR2 billion recorded in the first quarter of the year.
In another development, Almarai completed the offer and subscription of its US dollar-denominated sukuk, with the coupon rate being set at 5.233 percent.
A bourse filing showed that the total number of sukuk stood at 3,750, with a total value amounting to $750 million and a par value of $200,000 for an accumulative period of 10 years.
Meanwhile, Dar Alarkan Real Estate Development Co. completed its 13th sukuk issuance with a total issue size of $600 million.
A bourse filing revealed that the five-year tenor will give a profit rate of 8 percent per annum.
The issuance received interest from regional and global market participants with the order book reaching SR6.15 billion.
