RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Thursday, gaining 50.89 points, or 0.43 percent, to close at 11,760.32.
The total trading turnover of the benchmark index was SR5.89 billion ($1.57 billion), as 123 of the listed stocks advanced, while 109 retreated.
The MSCI Tadawul Index increased by 6.13 points, or 0.41 percent, to close at 1,490.20.
The Kingdom’s parallel market Nomu dipped, losing 162.11 points, or 0.53 percent, to close at 30,521.53. This comes as 43 of the listed stocks advanced while 31 retreated.
The best-performing stock was Rabigh Refining and Petrochemical Co., with its share price surging by 9.87 percent to SR7.68.
Other top performers included Retal Urban Development Co., which saw its share price rise by 4.96 percent to SR16.50, and Ades Holding Co., which saw a 4.38 percent increase to SR16.70.
The worst performer of the day was Sinad Holding Co., whose share price fell by 6.91 percent to SR12.40.
Gulf General Cooperative Insurance Co. and SICO Saudi REIT Fund also saw declines, with their shares dropping by 6.19 percent and 5.18 percent to SR9.55 and SR3.66, respectively.
On the announcements front, Amwaj International Co. announced its financial results for 2024, with net profits reaching SR6.3 million, down by 60.1 percent compared to the previous year.
In a statement on Tadawul, the company attributed the decrease to restructuring inventory and marketing mix to accommodate new technology, which has a higher demand level and profit margin than before.
“The addition of new products will positively impact sales and results for 2025 and will boost cash flow,” the statement said.
In another announcement, Gulf General Cooperative Insurance Co. revealed its annual financial results for 2024.
The company’s insurance revenues in 2024 reached SR414.3 million, up from SR315.6 million in the previous year, marking a 31.2 percent surge.
This was principally driven by business growth and an increase in the motor line of business, according to a statement by the firm.
In today’s trading session, the group’s shares traded 6.19 percent lower on the main market to close at SR9.55.
Saudi Printing and Packaging Co. also announced its annual financial results for last year.
The company’s net loss surged to SR219.4 million from SR132.3 million in the previous year due to establishing a provision for credit losses in trade receivables and recording impairment in fixed assets, inventory, and goodwill.
In Thursday’s session, the firm’s shares traded 2.43 percent lower on the main market to close at SR10.42.
On another note, Saudi Industrial Investment Group has announced that its board of directors has recommended a share buyback of up to 11 million ordinary shares, subject to approval by the Extraordinary General Assembly.
In a statement on Tadawul, the group said that the buyback aims to hold 10 million shares as treasury while allocating 1 million shares to the company’s long-term employee incentives program.
The repurchase will be financed through internal resources, and the acquired shares will not carry voting rights in General Assembly meetings.
SIIG will comply with regulatory solvency requirements, with a solvency report from external auditors to be included in the EGA approval process.
In today’s trading session, SIIG’s shares traded 1.72 percent higher on the main market to close at SR15.36.
