RIYADH: Saudi Arabia’s Tadawul All Share Index wrapped up Thursday’s trading session at 10,840.76, slipping 88 points or 0.81 percent.
The MSCI Tadawul 30 Index also fell 12.70 points or 0.89 percent to close at 1,406,73.
Conversely, the parallel market, Nomu, rose 175.73 points or 0.76 percent to 23,223.04.
TASI reported a trading volume of SR4.9 billion ($1.3 billion) on Thursday, with 57 stocks advancing and 156 retreating.
Nomu, on the other hand, saw a trading volume of SR19 million.
On the announcement front, Tabuk Cement Co. released its financial results for the first nine months, recording SR25.16 million in profits, a 648 percent increase compared to the same period last year.
According to a bourse filing, the company attributed the growth to an increase in average selling prices. Despite the positive results, the company’s share price fell 0.55 percent to SR14.60.
Furthermore, Alandalus Property Co. also announced its interim financial results for the first nine months, with its net profit dropping 37.89 percent to SR33.1 million.
It earned a net profit of SR53.29 in the same period last year.
In a filing to the Saudi Stock Exchange, the company said the slump resulted from a decrease in operating profit and an increase in general, administrative and marketing expenses.
The bourse filing stated that the company also saw high financing costs and a drop in profits in its sister companies. Its stock price fell 1.31 percent to SR21.14.
However, Al-Jouf Cement Co. saw a significant increase in the first nine months of the year compared to the same period last year,
According to the company’s financial results, net profits increased 836 percent from SR7 million in 2022 to SR72 million this year.
This surge resulted from an increase in sales of 26.27 percent and reduced sales costs.
