RIYADH: The Tadawul All Share Index in Saudi Arabia experienced a slight decline on Sunday, shedding 24.50 points, equivalent to 0.21 percent, to finalize at 11,882.93.
The benchmark index's total trading volume amounted to SR4.49 billion ($1.19 billion), with 72 stocks advancing and 151 retreating.
Conversely, the Kingdom's secondary market, Nomu, saw an increase of 352.19 points, or 1.34 percent, closing at 26,557.84. This movement was driven by 48 stocks advancing and 27 retreating.
The MSCI Tadawul Index also faced a decline, losing 2.84 points, or 0.19 percent, to end at 1,487.38.
The top performer of the day was Arabian Drilling Co., whose share price rose by 6.21 percent to SR112.80. Other notable gainers included Red Sea International Co. and Sadr Logistics Co.
On the flip side, Al-Baha Investment and Development Co. was the worst performer, with its share price dropping by 7.41 percent to SR0.25. Other underperformers included Saudi Fisheries Co. and Al-Etihad Cooperative Insurance Co.
In corporate news, Saudi Tadawul Group Holding Co. disclosed its interim financial results for the period ending September 30. The company reported a net profit of SR505.7 million for the first nine months of the year, marking a 69.5 percent increase compared to the same period in 2023. This growth was primarily due to higher operating revenues, reduced expenditures, and improvements in earnings per share, gross profit, and operational earnings.
Khalid Al-Hussan, CEO of Saudi Tadawul Group, emphasized the strategic focus on growth, diversification, and resilience, which he stated is driving the company's solid performance. He also highlighted ongoing efforts to diversify offerings and elevate subsidiary activities to strengthen the Saudi Capital Market's position globally.
Additionally, National Agricultural Development Co. (NADEC) announced its interim financial results, showing a net profit of SR326.59 million for the first nine months, an 83.3 percent increase year-on-year. This surge was attributed to higher revenue, lower selling and marketing expenses, and reduced financing costs.
Saudi Fisheries Co. announced a proposed amendment to its capital reduction percentage from 76.07 percent to 83.25 percent, aiming to restructure equity and eliminate accumulated losses.
Lastly, HSBC Saudi Arabia revealed its role as the sole financial adviser, lead manager, joint bookrunner, and underwriter for the potential IPO of United International Holding Co., which intends to list its shares on the main market of the Saudi Exchange.
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