RIYADH: Saudi Arabia’s Tadawul All Share Index declined on Monday, dropping 52.33 points, or 0.45 percent, to close at 11,493.82.
The total trading turnover of the benchmark index was SR5.9 billion ($1.5 billion) as 86 of the 228 stocks advanced, while 127 retreated.
The Kingdom’s parallel market Nomu slipped 110.26 points, or 0.47 percent, to close at 23,488.37, while the MSCI Tadawul Index dropped 12.44 points, or 0.83 percent, to settle at 1,487.90.
The best-performing stock of the day was Etihad Atheeb Telecommunication Co. The company’s share price surged 7.35 percent to SR6.20.
Other notable gainers were Cenomi Retail and Saudi Pharmaceutical Industries and Medical Appliances Corp., whose share prices jumped 5.78 percent and 4.46 percent, respectively.
On the announcements front, Saudi Arabia’s real estate development company Dar Al Arkan released its semi-annual financial results to report a decrease in year-on-year figures.
It recorded SR1.5 billion in revenue in 2023, a decrease of 30.76 percent compared to the same period last year which resulted in a downfall of 23.73 percent in gross profit.
However, the company registered a surge in its financial figures on a quarterly basis, recording an 8.1 percent increase in the second quarter of 2023 compared to the previous quarter, according to a bourse filing.
The company saw a 24.5 percent increase in profit, netting SR146 million in the second quarter of the year compared to SR117.6 million in the first quarter.
Al-Abdullatif Industrial Investment Co. also filed its financial results for the first half of the year on Tadawul, recording a year-on-year decrease in revenue by 24.6 percent.
It reported losses to the tune of SR39.7 million compared to SR15.5 million in losses in the same period last year.
On a quarterly basis, Al-Abdullatif saw a 1.2 percent decrease in its net losses, registering SR19.76 million in negative balance in the second quarter of the year compared to SR20 million in the first quarter.
