RIYADH: Saudi Arabia’s Tadawul All Share Index increased on Monday, gaining 28.42 points, or 0.24 percent, to close at 11,784.63.
The total trading turnover of the benchmark index was SR6.4 billion ($1.7 billion), as 86 of the stocks advanced and 154 retreated.
The MSCI Tadawul Index rose 1.09 points, or 0.07 percent, to close at 1,498.77.
The Kingdom’s parallel market, Nomu, dropped 149.32 points, or 0.52 percent, to close at 28,420.71. This comes as 33 stocks advanced while 46 retreated.
TASI’s top performer was Umm Al Qura for Development and Construction Co., which surged by 9.84 percent to reach SR25.90.
Other top performers included Al-Babtain Power and Telecommunication Co., whose share price rose 6.73 percent to SR47.55, as well as Saudi Reinsurance Co., whose share price surged 6.14 percent to SR51.
Riyadh Cables Group Co. was also among the top performers, increasing 5 percent to SR130.20.
Despite reporting financial gains, Nice One Beauty Digital Marketing Co. was the worst performer, with its stock price falling 3.85 percent to SR37.50.
Allied Cooperative Insurance Group also saw its stock price decline 3.85 percent to SR14.48. Arabian Internet and Communications Services Co. also dropped to SR290, a 3.33 percent decrease.
On the announcements front, Nice One Beauty Digital Marketing Co. reported a notable rise in its interim financial results for the three-month period ending March 31.
The company posted a 29.96 percent increase in sales year on year, reaching SR324.97 million, compared to SR250.05 million in the same quarter of the previous year.
This growth was attributed to stronger order volumes, new customer acquisitions driven by efficient marketing campaigns, a broader product range, and improved fulfillment efficiency, with a positive contribution from the seasonal impact of Ramadan.
Net profit rose 10.2 percent to SR24.12 million from SR21.91 million the previous year, supported by higher revenue and reduced selling and marketing expenses, although partially offset by increased operating expenses and zakat charges.
Separately, Banque Saudi Fransi announced its intention to issue US dollar-denominated additional tier 1 capital notes under its Additional Tier 1 Capital Note Program.
This move follows a resolution by the bank’s board of directors on Aug. 19, authorizing executive management to proceed with the issuance.
The offering, expected to be made available to eligible investors in Saudi Arabia and internationally, will have its amount and terms determined based on market conditions.
The issuance aims to enhance BSF’s tier 1 capital and support general banking activities. The bank has appointed Abu Dhabi Commercial Bank PJSC, Citigroup Global Markets, and Credit Agricole Corporate and Investment Bank, as well as Emirates NBD Bank PJSC, HSBC Bank plc, Mashreqbank PSC, Merrill Lynch Kingdom of Saudi Arabia, Mizuho International plc, MUFG Securities EMEA plc, and Saudi Fransi Capital as joint lead managers.
BSF noted that the offer will be subject to regulatory approvals and emphasized that the announcement does not constitute an invitation to purchase or subscribe to securities.
Almasane Alkobra Mining Co. reported strong growth in its interim financial results for the three-month period ending March 31, driven by a significant increase in revenue and net profit.
Sales rose by 63.4 percent year on year to SR219.77 million, compared to SR134.5 million in the same quarter of the previous year.
The company attributed the rise to higher quantities sold for zinc and increased prices for copper, zinc, and gold, despite a decline in copper volumes due to a five-week maintenance shutdown announced earlier on Tadawul.
Net profit surged 265.2 percent to SR55.24 million from SR15.12 million in the same quarter last year, supported by a SR49 million rise in gross profit, improved sales, and lower production costs, despite higher taxes and severance expenses.
AMAK’s share price rose by 1.3 percent to reach SR62.50.
