RIYADH: Saudi Arabia’s Tadawul All Share Index fell on Sunday, losing 58.44 points, or 0.49 percent, to close at 11,789.28.
The total trading turnover of the benchmark index was SR4.86 billion ($1.3 billion) as 63 of the listed 228 stocks declined, while 149 advanced.
While MSCI Tadawul 30 Index dropped 9.8 points to finish at 1,555.56, the parallel market Nomu rose 2.19 percent to close at 25,056.18.
The National Shipping Co. of Saudi Arabia was the top gainer of the day, with a rise of 4.4 percent in its share price to SR23.
The other gainers were Walaa Cooperative Insurance Co., rising 3.83 percent to reach SR19, and Saudi Airlines Catering Co. rising 3.49 percent to hit SR124.6.
The worst performer of the day was United International Transportation Co., which slid 5.29 percent to SR68.
The other losers were Aldrees Petroleum and Transport Services Co., which fell 4.61 percent to a unit price of SR115.8, and Saudi Arabian Amiantit Co. which recorded a drop of 4.22 percent to SR46.5.
The unit price of the Derayah REIT fund reached SR8.99, dropping 18 percent in 52 weeks, whereas the Al Rajhi REIT fund stood at SR8.91, recording a fall of 8 percent during that period.
On the announcements front, Saudi telecom operator Etihad Etisalat Co., known as Mobily, saw its profits soar 41.7 percent in the second quarter of 2023. Mobily recorded a net profit of SR497 million, up from SR360 million for the same period a year earlier, it said in a bourse statement.
Primarily driven by growth in the business segment, the company said its revenues totaled SR4.25 billion, registering a growth of 9 percent from SR3.9 billion recorded in the same quarter a year earlier. Due to the revenue growth, the company’s gross profit increased by 4.4 percent to reach SR2.4 million.
The Kingdom’s National Agricultural Development Co. recorded a 136.9 percent surge in profits during the second quarter of 2023, helped by a surge in sales of dairy and food processing products, the company said in a bourse filing.
It reported a profit of SR65.13 million in the second quarter of the year from SR27.49 million in the same period last year. The company attributed the result to a 12.67 percent growth in sales of dairy and food processing products, leading to an 11 percent revenue increase.
The National Shipping Co. of Saudi Arabia, better known as Bahri, also saw its profit surge 287 percent during the second quarter of 2023, following a revenue jump to SR2.35 billion.
The firm, which is a joint venture between the Public Investment Fund and Saudi Aramco, made profits of SR495.38 million, up from SR128 million a year ago, a bourse filing showed.
The strong profit was bolstered by higher revenue from multiple sectors, with oil transportation sales rising by SR255 million and chemicals transportation by SR209 million.
Additionally, Saudi Telecom Co. reported a 6 percent increase in its net profit to SR3 billion in the second quarter of 2023.
In the first half of 2023, the telecommunications firm reported a 4 percent rise to SR6.1 billion.
