Closing Bell: Saudi main index closes in green at 11,422
The total trading turnover of the benchmark index was SR5.21 billion ($1.39 billion), as 153 stocks advanced, while 84 retreated.
The Kingdom's parallel market, Nomu, also rose, gaining 129.67 points, or 0.46 percent, to close at 28,142.99. This comes as 41 of the listed stocks advanced, while 33 retreated.
The MSCI Tadawul Index increased by 4.27 points, or 0.29 percent, to close at 1,455.44.
The best-performing stock was Mouwasat Medical Services Co., with its share price surging 9.97 percent to SR78.30.
Other top performers included Fawaz Abdulaziz Alhokair Co., which saw its share price rise 9.92 percent to SR14.18, and Saudi Reinsurance Co., which posted a 9.71 percent gain to reach SR53.10.
Umm Al Qura for Development and Construction Co. recorded the day's steepest decline, with its share price slipping 3.47 percent to SR25.05.
Sahara International Petrochemical Co. and Saudi Steel Pipe Co. also saw declines, with their shares dropping by 2.82 percent and 2.58 percent to SR17.90 and SR52.90, respectively.
On the announcements front, Ades Holding Co. reported interim financial results for the first three months of the year, posting a net profit of SR196.6 million — a 6.3 percent decline compared to the previous quarter. It said that the drop in net profit reflects an increased ratio of depreciation and tax costs to revenue in this period.
The company's total comprehensive income saw a 45.7 percent quarter-on-quarter decrease in the first quarter of 2025 to reach SR170.8 million.
Ades Holding Co.'s share price traded 0.94 percent lower on the main market during today's session to reach SR14.78.
In another announcement, Makkah Construction and Development Co. reported a 32.7 percent year-on-year increase in net profit for the same period, reaching SR150 million.
The company credited the growth to higher revenues from the hotel and towers this quarter, driven by the inclusion of the last nine days of Ramadan, increased mall revenues, and gains from financial assets classified at fair value through profit or loss.
Similarly, the company's total comprehensive income rose to SR758 during the quarter, up from SR576 last year.
The MCDC's share price traded 1.5 percent higher to reach SR108.20.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arab News
9 hours ago
- Arab News
Closing Bell: TASI ends in red at 10,823
RIYADH: Saudi Arabia's Tadawul All Share Index closed Tuesday's trading session at 10,823.91, marking a decline of 61.41 points, or 0.56 percent. The total trading turnover of the benchmark index reached SR4.41 billion ($1.17 billion), with 52 stocks advancing and 199 retreating. The MSCI Tadawul Index also declined, dropping 5.36 points, or 0.38 percent, to close at 1,394.05. The Kingdom's parallel market Nomu fell by 55.39 points, or 0.21 percent, closing at 26,725.89. A total of 22 stocks advanced, while 51 declined. BAAN Holding Group Co. was the session's top performer, with its share price rising 8.70 percent to close at SR2.50. Other notable gainers included Amlak International Finance Co., which rose 6.08 percent to SR12.04, and National Metal Manufacturing and Casting Co., up 2.28 percent to SR17.50. Amlak's gains followed the release of its interim financial results for the period ending June 30, showing a 147.6 percent year-on-year increase in net profit to SR20.3 million. Mobile Telecommunication Co. Saudi Arabia also recorded gains, with its share price increasing 1.96 percent to SR10.43. On the other end, Tourism Enterprise Co. recorded the steepest decline, with its shares falling 10 percent to SR0.99. Arabian Drilling Co. followed with a 9.98 percent drop to SR77.55 after announcing a 65 percent year-on-year decline in net profit to SR7 million for the second quarter ended June 30. The company stated on Tadawul that the profit decline was primarily due to a fall in rig utilization — down to 79 percent from 91 percent in the same period last year — and higher finance costs stemming from increased gross debt. This was partially offset by a one-off asset impairment recorded in the second quarter of 2024. United Carton Industries Co. also posted a notable decline of 7.48 percent, closing at SR31.42. Jamjoom Pharmaceuticals Factory Co. and Gulf General Cooperative Insurance Co. posted losses of 4.38 percent and 4.16 percent, closing at SR161.40 and SR5.07, respectively.
Saudi Gazette
13-07-2025
- Saudi Gazette
Saudi banking sector assets hit $1.2 trillion in 2024
Saudi Gazette report RIYADH — Saudi Arabia's financial sector exceeded key Vision 2030 benchmarks in 2024, with total banking sector assets reaching SR4.49 trillion, or 131% of the program's target of SR3.43 trillion, according to the annual report released Sunday by the Financial Sector Development Program (FSDP). The report highlights the sector's achievements in supporting economic growth and outlines strategic goals for the coming years. Among the key indicators, the Tadawul All Share Index (TASI), excluding Aramco, reached a market capitalization of 86.7% of GDP, while private credit accounted for 69% of GDP. Insurance premiums reached 2.59% of non-oil GDP, surpassing the 2024 target by 9%. Small and medium enterprise (SME) loans made up 9.4% of total lending, hitting 94% of the annual goal. Assets under management stood at 26.3% of GDP, reaching 89% of the target. Finance Minister Mohammed Al-Jadaan, who chairs the FSDP committee, said the report reflects the Kingdom's continued success in bolstering financial resilience and enabling broader economic transformation. He noted that fintech continues to play a vital role in sector growth, with 261 licensed fintech firms operating by the end of 2024. In parallel, the Saudi Central Bank (SAMA) approved the launch of D360 Bank, a digital-only financial institution, as part of the Kingdom's push toward a cashless economy. Digital payments surged to 79% of total consumer transactions last year, underscoring the sector's digital maturity. Al-Jadaan also noted continued momentum in the capital markets, with 44 new company listings in 2024 bringing the total number of listed firms to 353. The report, Al-Jadaan said, showcases the scale of reform and growth across all sectors of the Kingdom in this transformative era under the leadership of King Salman and Crown Prince Mohammed bin Salman. The Financial Sector Development Program is one of the key Vision 2030 initiatives, aimed at building a diversified, resilient economy and strengthening Saudi Arabia's regional and global standing in financial services.
Argaam
02-07-2025
- Argaam
Morgan Stanley Saudi Arabia to act as market maker for 38 Nomu stocks
The Saudi Exchange (Tadawul) approved today, July 2, Morgan Stanley Saudi Arabia's request to conduct market-making activities on 38 companies listed on the Nomu-Parallel Market, starting July 3. Tadawul noted that Morgan Stanley Saudi Arabia will adhere to the existing market-making rules and procedures. The Tadawul-listed companies are Bank AlJazira, BSF, Arab National Bank (ANB), Saudi Steel Pipe, Seera Group Holding, Al Mawarid Manpower, SABIC Agri-Nutrients, Marafiq, Saudi Arabian Amiantit, Tanmiah Food, United Electronics, United International Holding, Red Sea International, CATRION, National Agricultural Development, Allied Cooperative Insurance Group, Anaam International Holding Group, Al-Rajhi Company for Cooperative Insurance, and CHUBB Arabia Cooperative Insurance. In Nomu, the companies under coverage are Arabian United Float Glass, Arabian Plastic Industrial, Al-Razi Medical, Sama Healthy Water Factory, Qomel, Sure Global Tech, Academy of Learning, Watani Iron Steel, Ghida Alsultan for Fast Food, Tam Development, Yaqeen Capital, Lana Medical, Al-Modawat Specialized Medical, Enma AlRawabi, Mohammed Hasan AlNaqool Sons, Balady Poultry, Alfakhera for Mens Tailoring, and Arabica Star .
