RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Wednesday, losing 157.79 points, or 1.36 percent, to close at 11,478.28.
The total trading turnover of the benchmark index was SR5.39 billion ($1.43 billion) as 75 of the 228 listed stocks advanced, while 138 retreated.
In addition to this, the Kingdom’s parallel market Nomu also slipped 153.47 points, or 0.62 percent, to close at 24,561.68 while MSCI Tadawul Index shed 24.15 points, or 1.58 percent, to close at 1,500.99.
The best-performing stock of the day was The Mediterranean and Gulf Insurance and Reinsurance Co. The company’s share price surged 6.54 percent to SR14.
Other top performers included Al-Baha Investment and Development Co. as well as Naseej International Trading Co., whose share prices soared by 5.88 percent and 5.34 percent, respectively.
The worst performer was Saudi Airlines Catering Co., whose share price dropped 7.95 percent to SR115.80.
In Nomu, Fesh Fash Snack Food Production Co. was the top gainer as its share price rose 5.68 percent to SR21.96.
Another best performer on Nomu was Natural Gas Distribution Co. The company’s share price soared 4.90 percent to SR60.
Mayar Holding Co. was the major loser on Nomu, as the company’s share price dropped 5 percent to SR95.
The share price of International Human Resources Co. also fell 4.93 percent to SR4.24.
On the announcements front, Saudi Airlines Catering Co.’s net profit soared by 53.43 percent in the first six months of 2023.
According to a Tadawul statement, the firm’s net profit reached SR120.9 million, up from SR78.8 million a year ago.
On another note, Nahdi Medical Co. also announced its financial results for the first half of 2023.
According to a bourse filing, the company’s net profit jumped 0.65 percent to reach SR509.3 million, up from SR506 million recorded in the corresponding period a year earlier.
Arabian Drilling Co. also disclosed its financial results for the first half of 2023. The firm’s net profit reached SR282 million, reflecting a 35.58 increase compared to SR208 million recorded in the first half of last year.
Meanwhile, Yanbu Cement Co.’s net profit dropped by 0.78 percent in the first half of 2023. A bourse filing revealed that the firm’s net profit reached SR86.29 million, down from SR86.97 in the same period last year.
Another firm that announced its financial results was Aldawaa Medical Services Co. Its net profit hit SR167.78 million in the first six months of the year, reflecting a 1.31 percent drop when compared to the corresponding period a year earlier.
