RIYADH: Saudi Arabia’s Tadawul All Share Index edged up on Tuesday, gaining 8.94 points, or 0.07 percent, to close at 12,062.09.
The total trading value of the benchmark index was SR7.19 billion ($1.92 billion), as 52 of the listed stocks advanced, while 178 retreated.
The MSCI Tadawul Index increased by 4.53 points, or 0.3 percent, to close at 1,517.79.
The Kingdom’s parallel market Nomu declined by 179.6 points, or 0.67 percent, to close at 26,623.1. This comes as 23 of the listed stocks advanced, while 43 retreated.
The best-performing stock of the day was Al-Baha Investment and Development Co., with its share price surging by 8.33 percent to SR0.26.
Other top performers included Zamil Industrial Investment Co., which saw its share price rise by 6.39 percent to SR29.15.
Saudi Arabian Mining Co. and Red Sea International Co. also saw positive change today at 3.10 percent and 2.85 percent to SR56.5 and SR72.3, respectively.
The worst performer of the day was Leejam Sports Co., whose share price fell by 6.31 percent to SR193.
Riyadh Cement Co. and Arabian Mills Co. for Food Products also saw declines, with their shares dropping by 4.10 percent and 3.49 percent to SR28.10 and SR58, respectively.
Raydan Food Co. and Union Cooperative Insurance Co. also saw negative changes today at 3.47 percent and 3.3 percent to SR24.18 and SR21.1, respectively.
On the announcements front, Thimar Development Holding Co. reported its interim financial results for the nine months ending Sept. 30, showing a net loss of SR11.28 million, which is 351.43 percent higher than the same period last year.
According to Tadawul, this loss occurred despite an increase in other revenues and is attributed to higher general and administrative expenses, as well as costs arising from adjustments to cash flows for financial obligations.
The company’s stock closed at SR43.1, down by 2.82 percent.
Mobile Telecommunication Co. Saudi Arabia, also known as Zain, announced a net profit of SR322 million for the nine months ending Sept. 30; however, this represents a 75.62 percent decline from the same period last year.
Operating expenses rose by SR123 million, and provisions for bad debts surged by SR217 million, according to Tadawul figures, which likely affected overall profitability.
The company also encountered financial obligations, including an SR633 million installment payment to the MFA in September, along with associated interest charges.
Furthermore, Zain invested SR293 million in capital expenditures during the third quarter of 2024 to improve customer experience and service quality, further pressuring net profit.
The stock closed the session at SR10.8, reflecting an increase of 0.37 percent.
Lejam Sports Co. reported a net profit of SR355 million as preliminary results during the same period, recording a 56.39 percent increase.
According to Tadawul, factors contributing to the profit increase include a growing subscriber base and the “Your Club Change” renewal program, which spurred the expansion of operating centers and higher cleaning and maintenance costs.
There was also a significant rise in non-recurring income, despite increases in general and administrative expenses and sales and marketing costs due to investments in technology and advertising.
Additionally, the firm recorded a SR7 million profit from a short-term Murabah investment. The stock closed the session at SR193, reflecting a decline of 6.31 percent.
United Electronics Co., also known as Extra, recorded SR356.7 million during this period, registering a 34.92 percent rise.
According to the statement, the company’s revenue growth and improved gross profit contributed to the increase, despite higher selling, distribution, administrative expenses, and financing costs.
The company’s shares ended the session at SR99.8, a decline of 1.38 percent.
