RIYADH: Saudi Arabia’s Tadawul All Share Index ended the week in green, gaining 30.71 points, or 0.25 percent, to close at 12,188.32.
The total trading turnover of the benchmark index was SR8.7 billion ($2.3 billion) as 108 of the listed stocks advanced, while 113 retreated.
Similarly, the MSCI Tadawul Index also gained 6.61 points, or 0.43 percent, to close at 1,527.
The Kingdom’s parallel market Nomu dropped 185.57 points, or 0.72 percent, to close at 25,702.34. This comes as 32 of the listed stocks advanced, while as many as 33 retreated.
The best-performing stock of the day was Saudi Manpower Solutions Co., with the company’s share price surging 6.33 percent to SR9.41.
Other top performers include Saudi Public Transport Co. as well as Tourism Enterprise Co., whose share prices soared by 5.83 percent and 5.06 percent, to stand at SR18.88 and SR0.83 respectively.
In addition to this, other top performers included Saudi Industrial Development Co. and National Gypsum Co.
The worst performer was Al-Baha Investment and Development Co., whose share price dropped by 7.69 percent to SR0.12.
Others to see falls were Al Sagr Cooperative Insurance Co. as well as Leejam Sports Co., whose share prices dropped by 6.19 percent and 3.12 percent to stand at SR23.34 and SR230, respectively.
AYYAN Investment Co. and B MBC Group Co. also recorded falls.
On the announcement front, Advanced Petrochemical Co. announced a net loss of SR17 million for the first half of 2024, a significant decline from the SR103 million net profit recorded during the same period in the previous year.
The company attributed this downturn to several factors, including a 20 percent year-on-year decrease in sales revenue due to scheduled maintenance activities in 2024.
Advanced Petrochemical posted a SR67 million loss share in its investment in SK Advanced for the current six-month period, compared to a SR43 million loss in the first half of 2023.
In the second quarter of 2024, the company’s net profit decreased by 30 percent to SR42 million, down from SR60 million in the same period of 2023. This reduction was primarily driven by a 12 percent year-on-year increase in propane prices, despite an overall rise in quarterly revenues.
