https://arab.news/g68wu
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 17.41 points, or 0.14 percent, to close at 12,502.00.
The total trading turnover of the benchmark index was SR9.23 billion ($2.46 billion) as 155 of the stocks advanced, while 65 retreated.
Similarly, the Kingdom’s parallel market Nomu rose 69.56 points, or 0.28 percent, to close at 25,274.09. This comes as 43 of the stocks advanced while as many as 18 retreated.
Meanwhile, the MSCI Tadawul Index slipped 3.43 points, or 0.21 percent, to close at 1,606.39.
The best-performing stock of the day was National Agricultural Development Co. The company’s share price surged 9.97 percent to SR35.30.
Other top performers include Development Works Food Co. as well as Etihad Atheeb Telecommunication Co.
The worst performer was Arabian Internet and Communications Services Co., whose share price dropped by 5.28 percent to SR372.80.
Other worst performers were Alkhorayef Water and Power Technologies Co. as well as Salama Cooperative Insurance Co.
On the announcements front, Gulf Insurance Group has announced its annual financial results for the period ending on Dec. 31.
According to a Tadawul statement, the firm’s net profit after Zakat has been attributed to shareholders reaching SR128.52 million in 2023, reflecting a 707.68 percent rise compared to 2022 figures.
The growth in net profit was mainly driven by an increase in insurance underwriting profits as well as a surge in investment income.
Additionally, NADEC has announced its annual financial results for 2023.
A bourse filing revealed that the company’s net profit hit SR302.06 million in the year ending on Dec. 31, up 216.33 percent compared to the corresponding period a year earlier.
The rise in net profit is mainly attributed to a steady market environment and good trading performance.
Furthermore, the shares of NADEC rose during today’s session by 10 percent at SR35.30, recording the highest close since listing, with trades amounting to about 5.4 million shares, with a value of SR187 million.
Moreover, Dr. Sulaiman Al-Habib Medical Services Group has announced the board of director’s decision to distribute SR402.50 million in cash dividends to shareholders for the fourth quarter of the fiscal year 2023.
According to a Tadawul statement, the total number of shares eligible for dividends amounted to 350 million, with the dividend per share standing at SR1.15.
The statement also revealed that the percentage of dividends to the share par value stood at 11.5 percent.
Meanwhile, Pan Gulf Marketing Co. announced it will debut on Nomu on Sunday.
A bourse filing revealed that the lead manager will be Yaqeen Capital and that the total offering size stands at 600,000 shares with an offering price of SR51.