RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, losing 43.36 points, or 0.41 percent, to close at 10,542.86.
The total trading turnover of the benchmark index was SR3.80 billion ($1.01 billion) as 86 of the listed stocks advanced, while 122 retreated.
Similarly, the Kingdom’s parallel market Nomu slipped 71.87 points, or 0.32 percent, to 22,060.28. This drop came as 22 of the listed stocks progressed while 33 receded.
MSCI Tadawul 30 Index edged down 7.59 points, or 0.56 percent, to 1,356.20.
The best-performing stock of the day on TASI was Al Sagr Cooperative Insurance Co. The company’s share price surged 9.97 percent to SR21.40.
Other top performers include Etihad Atheeb Telecommunication Co. and Arabian Pipes Co., whose share prices soared by 9.87 percent and 7.07 percent to stand at SR131.40 and SR89.30, respectively.
Lumi Rental Co. and National Shipping Co. of Saudi Arabia were also among the top performers of the day.
The worst performer was Filing and Packing Materials Manufacturing Co. The firm’s share price fell 3.32 percent to SR49.50.
Al Yamamah Steel Industries Co. and Seera Group Holding were the worst performers, whose share prices lost 3.25 percent and 3.24 percent to SR22.00 and SR22.10, respectively.
United Electronics Co. and Batic Investments and Logistics Co. were also among the poor performers of the day.
On the announcements front, Almunajem Foods Co. has announced its interim financial results for the first nine months of 2023.
In a statement to Tadawul, the company reported that its net profit stumbled 26.6 percent to SR200.6 million on Sept. 30 compared to the corresponding period a year earlier.
This slump is mainly attributed to a decrease in gross profit by 13.5 percent and an increase in operating expenses by 2.1 percent during the period to reach SR 218.7 million.
On the other hand, the firm’s net profit surged 13.99 percent in the third quarter of the year compared to the same quarter of 2022 to reach SR61.1 million.
This rise in net profit during the third quarter is mainly linked to an 11 percent surge in revenues and a 9 percent increase in gross profit.
Meanwhile, Shatirah House Restaurant Co.’s board of directors approved its transition from the parallel market Nomu to the primary market.
A bourse filing revealed that the transfer is subject to market approval and is conditional on fulfilling all requirements stipulated in the listing rules.
