Arab News, Tuesday, May 09, 2023 | Shawwal 19, 1444
Closing bell: Saudi benchmark index closes flat at 11,256 points
Saudi Arabia: Saudi Arabia’s Tadawul
All Share Index closed flat on Monday, slipping 0.26 points to 11,256.39.
While the parallel market Nomu lost 35.84 points
to finish at 21,058.53, the MSCI Tadawul Index inched up 1.12 percent to end at
1,514.66.
The total trading turnover of the benchmark index
on Monday was SR5.57 billion ($1.49 billion).
The best performer of the day was Ash-Sharqiyah
Development Co., whose share price soared 9.91 percent to SR21.08.
Other top performers were Salama Cooperative
Insurance Co. and Saudi Co. for Hardware, whose share prices surged 9.91 percent
and 6.70 percent, respectively.
Tihama Advertising and Public Relations Co. was
the worst performer of the day. The company’s share price dropped 10 percent to
SR20.88.
On the announcements front, Al-Jouf Agricultural
Development Co. informed Tadawul that it earned a net profit of SR20.07 million
in the first quarter of this year, up 31.8 percent from SR15.23 million in the
same period of 2022, driven by higher revenue from sales. The company’s share
price advanced 3.09 percent to SR56.70.
Another firm that announced its financial results
for the first quarter was Nama Chemicals Co., reporting a net loss of SR18.8
million in the first three months of 2023 against a net profit of SR33.40
million in the same period a year ago. Despite reporting a loss in the first
quarter, Nama Chemicals Co.’s share price rose 0.14 percent to SR36.15.
Meanwhile, the net profit of Saudi Automotive
Services Co. skyrocketed 75.44 percent in the first quarter to SR14.07 million,
compared to SR8.02 million in the same period of 2022. The firm’s share price
slid 2.68 percent to SR39.90.
Bawan Co. informed the Saudi Stock Exchange that
its net profit declined by 31.41 percent in the first quarter to SR34.53
million, compared to SR50.34 million in the same period a year ago.
United Electronics Co., also known as eXtra,
reported a net profit of SR84.44 million for the first quarter of 2023, down
13.40 percent from SR97.51 million in the same quarter of 2022. The firm’s share
prices edged up 0.79 percent to SR77.