RIYADH: Saudi Arabia’s benchmark Tadawul All Share Index fell 57.70 points, or 0.52 percent, on Wednesday to close at 10,949.27.
The MT30 index declined 4.59 points, or 0.31 percent, to 1,461.56, while the parallel market Nomu advanced 85.64 points, or 0.38 percent, to 22,811.84.
Trading turnover on the main market reached 320,962,911 shares, with a total value of SR6.72 billion ($1.79 billion). A total of 116 stocks advanced, while 137 declined.
Gulf Insurance Group led gainers, rising 9.08 percent to SR27.26. The Power and Water Utility Co. for Jubail and Yanbu advanced 8.46 percent to SR37.18, while Arabian Mills for Food Products Co. gained 8.13 percent to SR43.10.
Al Moammar Information Systems Co. rose 6.95 percent to SR180, and The Co. for Cooperative Insurance increased 6.20 percent to SR137.10.
On the losing side, Wataniya Insurance Co. declined 9.99 percent to SR13.33. Allied Cooperative Insurance Group fell 8.21 percent to SR6.15, while Riyadh Cables Group Co. dropped 7.86 percent to SR119.50.
Rabigh Refining and Petrochemical Co. lost 7.26 percent to SR13.54, and Retal Urban Development Co. decreased 6.23 percent to SR13.99.
On the announcement front, Naqi Water Co. reported a 70.72 percent increase in net profit attributable to shareholders for the first quarter of 2026, driven by higher revenues and improved operating performance.
Net profit reached SR6.21 million during the three months ended March 31, compared with SR3.64 million in the corresponding period a year earlier.
Revenue rose 16.20 percent year on year to SR51.68 million, while gross profit increased 17.75 percent to SR18.83 million.
The company said the growth in sales was mainly supported by higher revenues from its water sector operations and the expansion of retail sector branches, which contributed to strengthening its customer base.
Naqi added that improvements in operational efficiency and returns from financial investments also supported profitability during the quarter.
Compared with the previous quarter, revenue increased 21.50 percent, while net profit swung from a loss of SR14.58 million to a profit of SR6.21 million.
Naqi Water Co.’s stock closed at SR52.85, up 1.63 percent.
Elm Co. reported a 32.53 percent rise in first-quarter net profit to SR656 million, compared with SR495 million a year earlier.
Revenue increased 31.70 percent to SR2.47 billion, supported by growth across digital business, business process outsourcing, and professional services.
Gross profit rose 35.88 percent to SR1.05 billion, while operating profit climbed 29.94 percent to SR612 million.
Compared with the previous quarter, revenue declined 11.97 percent, while net profit increased 47.09 percent.
Earnings per share rose to SR8.43 from SR6.38. Elm’s stock closed at SR598, up 3.28 percent.
