RIYADH: Saudi Arabia’s Tadawul All Share Index ended Monday’s trading session in the red, losing 8.95 points, or 0.07 percent, to close at 12,039.31.
The total trading value of the benchmark index was SR6.1 billion ($1.6 billion), with 66 listed stocks advancing, while 166 retreated.
The MSCI Tadawul Index also shed 0.34 points, or 0.02 percent, closing at 1,512.48.
However, the Kingdom’s parallel market Nomu gained 765.32 points, or 2.80 percent, to close at 28,062.77, with 41 stocks advancing and 32 retreating.
The best-performing stock of the day was Shatirah House Restaurant Co., also known as Burgerizzr, whose share price surged by 9.96 percent to SR22.52.
Other top performers included Retal Urban Development Co., which saw a rise of 9.64 percent to SR15,70, and Al-Baha Investment and Development Co., which increased by 7.14 percent to SR0.30.
Elm Co. and Al-Baha Investment and Development Co. also recorded gains of 4.64 percent and 4.29 percent, closing at SR1,122 and SR21.90, respectively.
Several Saudi firms released their financial results for the first nine months of the year.
Saudi Telecom Co. recorded a 3.9 percent yearly increase in profit to reach SR56.6 billion, mainly attributed to the rise in stc KSA and stc’s subsidiaries revenue by 0.6 percent and 11 percent, respectively.
Net profit also recorded growth of 1.9 percent to reach SR11.2 billion, largely driven by the increase in revenue and the decrease in zakat and income tax expenses.
The company closed Monday’s trading session in green with a 0.59 percent increase in its share price to reach SR42.30.
National Gas and Industrialization Co. also saw a significant 15.5 percent year-on-year increase in revenue to reach SR2 billion in the first nine months.
The growth in profit was driven primarily by rising gas prices and an uptick in sales volume. This shift is further supported by enhanced revenues from commercial projects and increased sales of empty cylinders.
Additionally, the company has witnessed gains from the sale of scrap and spare parts, as well as from transportation and various other services.
The firm also reported an increase in net profit by 2.1 percent to reach SR188.7 million, primarily driven by a significant rise in gross profit resulting from enhanced revenues and a reduction in zakat expenses.
Despite this, the company closed Monday’s trading session in red, shedding 2.21 percent to close at SR106.
Bupa Arabia for Cooperative Insurance Co. also recorded significant gains. The company saw insurance revenues increase by 15 percent to reach SR13.4 billion, driven by business growth.
Profit before zakat and income tax attributable to shareholders for the current period amounted to SR1.3 billion, an increase of 31.4 percent, mainly due to gains across multiple aspects of the business.
Despite the strong gains, Bupa closed Monday’s trading session in red, shedding 1.49 percent to close at SR198.20.
On a different note, SNB Capital launched its SNB Capital Saudi Nomu Market Fund to facilitate easier access to the parallel market.
The fund is designed for retail investors aiming to strategically invest in the listed equities on the Nomu market without having to meet the Qualified Investor criteria.
