RIYADH: Saudi Arabia’s Tadawul All Share Index continued its upward trend for the second consecutive day, gaining 9.87 points to close at 12,611.42.
The benchmark index posted a trading value of SR8.38 billion ($2.23 billion), with 163 stocks advancing and 54 declining.
Nomu, Saudi Arabia’s parallel market, gained 37.75 points, closing at 26,292.03, while the MSCI Tadawul Index shed 4.96 points, closing at 1,622.75.
The top-performing stock of the day was Middle East Pharmaceutical Industries Co., or Avalon Pharma, which made its main market debut on Tuesday. The company’s share price surged by 29.83 percent to SR138.40.
Other notable performers included Saudi Fisheries Co. and Halwani Bros. Co., whose share prices surged by 9.86 percent and 8.26 percent, respectively.
Conversely, Saudi Arabian Amiantit Co. experienced a decline, with its share price falling by 3.18 percent to SR28.90.
On the announcements front, Saudi Aramco Base Oil Co., also known as Luberef, reported a net profit decline of 23.68 percent to SR1.50 billion in 2023 compared to the previous year.
In a Tadawul statement, the company attributed this decrease to lower prices for base oils and secondary products.
Astra Industrial Group also released its financial performance report for 2023, revealing a marginal 0.21 percent increase in net profit compared to 2022. The growth was attributed to higher sales and gross profit in the pharmaceutical and steel industries segments.
Retal Urban Development Co. reported an 18 percent year-on-year decline in net profit to SR202.4 million in 2023.
Meanwhile, Alinma Bank initiated the offer of dollar-denominated Additional Tier 1 capital certificates, each with a nominal value of $200,000, to be listed on the London Stock Exchange’s International Securities Market.
