Closing bell: Saudi Arabia’s main index inches up to close at 11,405

Closing bell: Saudi Arabia’s main index inches up to close at 11,405
The session witnessed a mix of stock performances as 105 of listed stocks advanced, while 99 retreated. (Shutterstock)
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Updated 24 August 2023
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Closing bell: Saudi Arabia’s main index inches up to close at 11,405

Closing bell: Saudi Arabia’s main index inches up to close at 11,405

RIYADH: Saudi Arabia’s Tadawul All Share Index showed its resilience on Thursday by edging up 38.23 points, or 0.34 percent, to close at 11,405.30.  

The benchmark index recorded a total trading turnover of SR5.02 billion ($1.34 billion), reflecting robust market activity. 

The session witnessed a mix of stock performances as 105 of listed stocks advanced, while 99 retreated.  

The Kingdom’s parallel market Nomu recorded a modest uptick of 17.29 points, or 0.07 percent, to close at 23,646.35. 

The MSCI Tadawul Index also rose slightly by 4 points, or 0.27 percent, to close at 1,475.10. 

Sadr Logistics Co. emerged as a standout gainer as its share price surged 6.29 percent, reaching SR3.38. Al Kathiri Holding Co. followed with a 5.46 percent increase, settling at SR2.94. 

Theeb Rent a Car Co. was another top performer as the company’s share price surged 4.14 percent to SR68.   

Among the other top gainers were Al-Babtain Power and Telecommunication Co. and Abdullah Saad Mohammed Abo Moati for Bookstores Co. 

Among the worst performers was Salama Cooperative Insurance Co. which recorded a 6 percent drop in its share price, closing at SR25. 

Al-Baha Investment and Development Co. as well as Maharah Human Resources Co. also faced declines of 5.88 percent and 2.81 percent, reaching SR0.16 and SR60, respectively.   

Other worst performers included Fawaz Abdulaziz Alhokair Co., also known as Cenomi Retail, and Middle East Healthcare Co. 

In the Nomu market, Enma AlRawabi Co. emerged as the frontrunner, experiencing a surge of 17.51 percent in its share price, reaching SR21.22. 

Nofoth Food Products Co. and Amwaj International Co. also stood out as best performers. Their share prices witnessed hikes of 10.22 percent and 4.74 percent, resulting in values of SR18.60 and SR80.50, respectively. 

On the flip side, National Building and Marketing Co. faced headwinds, with its share price falling by 7.89 percent to SR254.40. 

Similarly, Marble Design Co. and Ladun Investment Co. encountered declines, with their share prices falling by 6.03 percent and 4.67 percent, settling at SR74.20 and SR3.08, respectively. 

On the announcements front, Saudi Lime Industries Co. reported a 28.27 percent contraction in net profit, which narrowed to SR4.67 million in the first half of 2023, down from SR6.51 million during the corresponding period in the prior year. 

In a Tadawul statement, the company attributed this decline to a 20 percent increase in diesel prices since the commencement of the year. 

The company said the transportation expenses related to both raw materials and finished products were impacted as higher diesel costs contributed to elevated logistical costs.