RIYADH: Saudi Arabia’s Tadawul All Share Index continued its downward trend for the third day in a row as it shed 27.67 points, or 0.25 percent, to close at 11,244.27 on Tuesday.
The total trading turnover of the benchmark index was SR6.38 billion ($1.70 billion) as 115 of the listed 228 stocks advanced, while 102 declined.
The Kingdom’s parallel market Nomu dipped by 0.44 percent to settle at 23,539.75 while the MSCI Tadawul Index went down by 0.74 percent to close at 1,460.53.
Fawaz Abdulaziz Alhokair Co., which announced its financial results for the first half of 2023, was the top gainer of the day as its share price soared 9.99 percent to SR16.74.
In a Tadawul statement, Fawaz Abdulaziz Alhokair Co., also known as Cenomi Retail, reported a net profit of SR113.8 million in the first half of 2023, compared to a loss of SR1.7 million in the same period a year earlier.
Other top gainers of the day were Electrical Industries Co. and Al-Rajhi Co. for Cooperative Insurance, whose share prices edged up by 9.87 percent and 9.67 percent, respectively.
The worst performer of the day was Mouwasat Medical Services Co., which saw its share price drop 8.94 percent to SR110.
The value of Marble Design Co., which debuted in the parallel market on Tuesday, soared 30 percent to SR72.80 a share.
On the announcements front, Dallah Healthcare Co. released its financial results for the first half of 2023. In a statement to Tadawul, the firm revealed that its net profit slipped by 2.94 percent in the first half of this year to SR147.67 million, compared to SR152.15 million in the same period of 2022.
Dallah Healthcare Co.’s total revenue, however, increased by 16.25 percent in the first half of 2023 to SR1.38 billion, from SR1.19 billion in the first six months of the previous year.
Salama Cooperative Insurance Co., which incurred losses in the first half of 2022, turned into profit in the same period of 2023.
According to a Tadawul statement, the insurance firm swung into a net profit of SR30.3 million in the first half of 2023, compared to a net loss of SR77.41 million in the same period a year ago. The company attributed the rise to an increase in insurance revenues by 59 percent, primarily driven by a growth in total earned insurance premiums for the first half of the year by SR138.64 million.
Wataniya Insurance Co., which also reported its financial results on Tuesday, said that its net profit before zakat for the first six months of this year hit SR24.1 million, compared to the net loss of SR25.78 million it incurred in the same period of 2022.
