RIYADH: Saudi Arabia’s Tadawul All Share Index continued its upward trend on Monday, as it increased by 131 points – or 1.19 percent – to 11,163.57, driven by increased investor confidence.
It was the last session before Saudi Arabia’s stock exchange closes for the Eid Al-Fitr holidays, and will resume operations on April 25.
The parallel market Nomu went up by 178.24 points – or 0.86 percent – to 20,908.44, while the MSCI Tadawul 30 Index rose by 1.03 percent to 1,511.40.
The total trading turnover of the benchmark index was SR5.06 billion ($1.35 billion).
The top performer of the day was Dallah Healthcare Co., with the company’s share prices going up by 6.88 percent to SR164.60.
Other leading stocks included ACWA Power Co. and Emaar The Economic City, whose share prices soared by 4.98 percent and 4.85 percent respectively.
The worst performer of the day was Al Kathiri Holding Co. which saw its price drop by 9.79 percent to SR3.78.
On the announcements front, Saudi Ceramics Co. revealed its net profit for the first quarter of 2023 stood at SR14.7 million, down 71 percent compared to the same period in the previous year. In a Tadawul statement, the company noted that an increase in the cost of production, along with high-interest rates, has negatively impacted the profit of the firm.
Meanwhile, Jarir Marketing Co. announced that its shareholders will discuss the board’s 10-for-1 stock split proposal during the extraordinary general meeting, scheduled for May 30. The company also announced its financial statements for the first quarter on Monday.
Jarir Marketing Co. revealed that it reported a net profit of SR247.8 million for the first quarter, a decline of 1.3 percent, compared to the same quarter in 2022.
