RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, as it shed 24.30 points, or 0.21 percent, to close at 11,351.48.
The total trading turnover of the benchmark index was SR3.78 billion ($1.01 billion) as 50 of the listed 228 stocks declined, while 162 advanced.
Saudi Arabia’s parallel market Nomu also dipped on Sunday, as it dropped 52.08 points to 24,582.78.
The MSCI Tadawul Index, too, shed 0.05 percent to close at 1,483.44.
The best-performing stock of the day was Saudi Steel Pipe Co., whose share price soared 6.53 percent to SR30.20.
Other top performers included Leejam Sports Co. and Saudi Awwal Bank, whose share prices edged up by 5.17 percent and 3.59 percent, respectively.
National Agricultural Development Co. was the worst performer of the day. The company’s share price dropped 10 percent to SR43.20.
On the announcements front, Al Masane Al Kobra Mining Co. reported that its net profit narrowed to SR43.46 million in the first half of 2023, down 47.14 percent compared to the same period of the previous year.
In a statement to Tadawul, the company attributed the fall in profit to lower prices of copper and zinc, along with a decrease in copper and gold sales volumes.
Mobile Telecommunication Co. Saudi Arabia also announced its financial results for the first half of this year. The company, also known as Zain KSA, reported a net profit of SR687 million in the first half of 2023, up 221 percent from SR214 million in the same half of last year.
In a statement to the Saudi Stock Exchange, the company reported that the profit surge resulted from its net revenue hitting SR4.81 billion in the first half of 2023, compared to SR4.38 billion in the same period of the previous year.
Meanwhile, Elm Co. announced that its net profit soared 56.53 percent to SR695 million in the first half of 2023 from SR444 million in the first six months of 2022. The company’s share price surged 4.18 percent to SR673.