Saudi Arabia's Tadawul All Share Index Closes Flat with Mixed Performances from Companies
(MENAFN) On Monday, Saudi Arabia's Tadawul All Share index closed flat, slipping by 0.26 points to end the day at 11,256.39. Meanwhile, the parallel market Nomu lost 35.84 points, finishing at 21,058.53. However, the MSCI Tadawul Index inched up 1.12 percent, ending the day at 1,514.66. The total trading turnover of the benchmark index on Monday was SR5.57 billion (USD1.49 billion).
The best performing company of the day was Ash-Sharqiyah Development Co., whose share price soared by 9.91 percent to SR21.08. Other top performers included Salama Cooperative Insurance Co. and Saudi Co. for Hardware, whose share prices surged by 9.91 percent and 6.70 percent, respectively. On the other hand, Tihama Advertising and Public Relations Co. was the worst performer of the day, with its share price dropping by 10 percent to SR20.88.
In terms of announcements, 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 by 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 by 0.14 percent to SR36.15.
The mixed performances of companies in the Saudi Arabian stock market reflect the ongoing volatility and unpredictability in the global economy. While some companies saw significant gains, others experienced losses. The announcements from Al-Jouf Agricultural Development Co. and Nama Chemicals Co. also demonstrate the varying financial situations of companies in the region. Overall, the performance of the Tadawul All Share Index and the individual companies in the Saudi Arabian stock market will continue to be closely monitored by investors and analysts.
MENAFN09052023000045014228ID1106205809
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.