https://arab.news/n6p6t
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 44.59 points, or 0.37 percent, to close at 12,003.66.
The total trading turnover of the benchmark index was SR6.55 billion ($1.74 billion) as 127 stocks advanced, while 95 retreated.
The Kingdom’s parallel market, Nomu, also surged 192.l84 points, or 0.78 percent, to close at 24,809.90. This comes as 26 stocks advanced, while as many as 30 retreated.
Meanwhile, the MSCI Tadawul Index gained 7.80 points, or 0.50 percent, to close at 1,556.89.
The best-performing stock of the day was MBC Group Co. The company’s share price rose 9.98 percent to SR72.70.
Jamjoom Pharmaceuticals Factory Co. as well as Takween Advanced Industries Co. also fared well.
The worst performer was Riyadh Cement Co. whose share price dropped by 3.23 percent to SR29.95.
Arabian Drilling Co. as well as National Medical Care Co. failed to perform well.
On the announcements front, Almarai Co. revealed its interim financial results for the period ending on Dec. 31, 2023.
According to a Tadawul statement, the firm’s net profits reached SR371 million during the last quarter of 2023, reflecting a 4.18 percent growth when compared to the corresponding period a year earlier.
The rise in net profit is mainly attributed to an increase operating profit by 5 percent due to revenue growth, accompanied by stabilized commodity costs and well managed operating costs.
It is also linked to a surge in net profit by 4 percent due to the higher operating profit and partly due to the synergies driven by 100 percent acquisition of the Egypt and Jordan business earlier in the year.
Banque Saudi Fransi announced the completion of its offering of US-dollar-denominated certificates under the Trust Certificates Issuance Program valued at $700 million with a five-year maturity period.
A bourse filing revealed that the announcement comes following the institution’s statement on Wednesday on its intention to issue the certificates.
The total number of bonds stands at 3,500 with a par value of $200,000 and a return of 5 percent per annum.
Meanwhile, Sumou Real Estate Co. has announced that it has obtained off plan sale permit for Areem residential project.
According to a Tadawul statement, the announcement comes after the firm signed a development agreement for Areem residential project with the National Housing Co. in Makkah city.