RIYADH: Saudi Arabia’s Tadawul All Share Index edged up 41.6 points, or 0.35 percent, to close at 11,801.90 on Monday.
The parallel market Nomu witnessed a significant rise of 822.90 points, or 3.43 percent, to close at 24,828.27.
Meanwhile, the MSCI Index inched up 7.73 points, or 0.50 percent, to reach 1,559.06.
Total trading on the benchmark index reached SR6.3 billion ($1.67 billion) as 131 stocks advanced while 77 retreated.
Nomu saw SR31.92 million in traded value at the end of the day.
Saudi insurance firms Mediterranean and Gulf Insurance and Reinsurance Co. and Malath Cooperative Insurance Co. led the stock rally on Monday.
On the announcement front, Saudi Arabia’s Bank Albilad said it closed the second quarter of the year with a positive gross income from financing and investments with SR1.84 billion, a 61.5 percent increase compared to the same period last year.
The rise is primarily attributed to a 3 percent growth in total operating profit which registered SR1.29 billion during the same period.
In comparison to the previous quarter of 2023, net income increased by 0.5 percent to reach SR565.5 million, thanks to a 3 percent reduction in total operating expenses, according to a bourse filing.
The bank secured SR1.27 billion in net profit before zakat and income tax in the first half of the year, representing a 14.4 percent increase compared to the first half of 2022.
Additionally, the bank’s assets increased in the first half of the year to reach SR135.4 billion, marking a growth of 11.4 percent compared to the same period last year.
The Kingdom’s Al Rajhi Bank also announced its financial results for the first six months of 2023 with a gross income from financing and investments at SR18 billion, marking a growth of 46 percent compared to the same period last year.
However, Al Rajhi registered a slowdown of 5.3 percent in net income in the first half of the year compared to the previous year as well as a drop of 3.5 percent in operation profit and a decline of 1.15 percent in net profit, the company stated in a bourse filing.
