https://arab.news/bp7j6
RIYADH: Saudi Arabia’s Tadawul All Share Index increased on Wednesday, gaining 37.04 points, or 0.31 percent, to close at 12,038.67.
The total trading turnover of the benchmark index was SR7.27 billion ($1.93 billion), with 129 of the listed stocks advancing and 97 declining.
The Kingdom’s parallel market Nomu increased 59.16 points, or 0.23 percent, to close at 25,978.50.
MSCI Tadawul Index also increased by 3.53 points, or 0.23 percent, to reach 1,507.09.
The best-performing stock of the day was Eastern Province Cement Co., whose share price surged 10 percent to SR37.40.
The second top performer was Abdullah Al Othaim Markets Co., with its share price soaring by 8.51 percent to SR1.50.
Other top gainers include East Pipes Integrated Co. for Industry and Riyadh Cement Co., as their share prices increased by 6 percent and 5.43 percent to SR166 and SR29.1.
The worst performer was Al-Baha Investment and Development Co., whose share price dropped by 9.37 percent to SR0.29.
The second poor performer of the day was Alamar Foods Co., which saw its share price decrease by 2.55 percent to SR80.10.
Other worst performers included Almarai Co. and Arab Sea Information System Co., whose share prices shed by 2.55 percent and 2.30 percent, respectively.
On the parallel market Nomu, First Avenue for Real Estate Development Co., was the top gainer, with its share price surging by 30 percent to SR7.80.
The increase came as the firm disclosed its financial results for the first six months of 2024.
The company’s net profit increased by 21.95 percent to SR31 million, up from SR25.4 million in the same period last year.
The firm said in a bourse filing that the increase was due to the rise in profit margin from revenues received from commissions, development for others, and rentals, in addition to the increase in fair value of some investment properties.
Ladun Investment Co. was the major loser on Nomu, as the company’s share price slipped by 6.44 percent to SR3.63.