RIYADH: Saudi stocks were off to a bad start this week after the earnings season ended with mixed results, forcing investors to be cautious.
The Tadawul All Share Index concluded the first trading season of the week 0.52 percent lower at 12,526, while the parallel Nomu finished 0.61 percent down at 21,763.
Oil giant Saudi Aramco ended the session with a 1.65 percent decline, while Al Rajhi, the Kingdom’s largest valued bank, declined 1.41 percent.
The share price of Alinma Bank declined by 0.91 percent, while the Saudi British Bank declined by 1.07 percent.
The Saudi National Bank, the country’s biggest lender, slipped 1.26 percent, as it announced the commencement of its additional riyal-denominated sukuk offering on Aug. 28.
Alhokair Group’s shares fell 1.6 percent, despite managing to cut down its losses by 49 percent during the first half of 2022.
Emaar The Economic City dropped 1.85 percent, after losses widened by 10 percent in the first half of 2022.
Al Jouf Cement Co. increased by 0.59 percent, despite a 93 percent decline in profits during the first half of 2022.
Naqi Water Co. added 1.07 percent, despite reporting weak first-half profits in its first earnings report since going public earlier this month.
Jabal Omar Development Co. gained 1.47 percent, after its shareholders approved a 24 percent capital increase.
