https://arab.news/muqdz
RIYADH: Saudi Arabia’s Tadawul All Share Index ended the week in red as it slipped by 95.82 points or 0.91 percent to close at 10,408.94.
The total trading turnover of the benchmark index was SR4.23 billion ($1.13 billion) as 62 stocks advanced, while 153 declined.
The Kingdom’s parallel market, Nomu, also slipped by 223.19 points to close at 22,448.49, while the MSCI Tadawul Index edged down by 1.46 percent to 1,336.95 on Thursday.
The best-performing stock on the main market was Saudi Paper Manufacturing Co. The company’s share price soared by 4.98 percent to SR37.95.
Other top performers of the day were Saudi Arabian utility giant ACWA Power and Development Works Food Co. whose shares surged by 3.93 percent and 3.72 percent respectively.
Saudi Ground Services Co. also performed well on Thursday with its share price edging up by 2.53 percent.
The worst performer in the main market Al-Baha Investment and Development Co., whose share price went down by 7.14 percent to SR0.13.
Alqemam for Computer Systems Co. was the best-performing stock on Nomu, as its share price went up by 12.61 percent to SR125.
On the announcements front, Saudi Real Estate Co. revealed that it incurred a net loss of SR73.7 million in the first half of this year, against a net profit of SR15.9 million in the same period of the previous year.
In a Tadawul statement, the company noted that revenue 14 percent in the second half of this year, compared to the same period in 2022 due to lower revenue from residential unit sales and a decline in the gross profit of subsidiaries.
Meanwhile, Sadr Logistics Co. announced that it signed a 150-business-day contract with Al-Saif Trading Agencies Co. for SR 13.8 million. According to a Tadawul statement, the contract included the manufacture, supply, and installation of metal storage racking systems in the client’s Riyadh-based warehouses.