RIYADH: Saudi Arabia's Tadawul All Share Index fell on Monday, losing 54.03 points, or 0.44 percent, to close at 12,121.40.
The total trading volume of the benchmark index was SR6.90 billion ($1.84 billion) as 69 of the listed stocks advanced, while 150 retreated.
The MSCI Tadawul Index lost 5.19 points, or 0.34 percent, to close at 1,519.30.
The corresponding market in Nomu State increased by 10.08 points, or 0.04 percent, to close at 26,513.06. This comes as 28 of the listed stocks advanced, while 31 declined.
The best stock of the day was Kingdom Holding Co., with a price increase of 9.50 percent to SR9.80.
Other top players include Saudi Automotive Services Co. and Tanmiah Food Co., whose share price increased by 6.14 percent and 3.43 percent, to stand at SR62.20 and SR132.80.
Other top gainers include National Co. for Glass Industries and Al-Rajhi Co. for Cooperative Insurance.
The worst performer is Bawan Co. where the share price fell by 4.25 percent to SR47.30.
Other notable decliners included Buruj Cooperative Insurance Co. and City Cement Co., with share prices down 3.87 percent and 3.68 percent to SR20.86 and SR18.84.
Saudi Manpower Solutions Co. and Al Sagr Cooperative Insurance Co. have seen their prices drop as well.
In terms of announcements, Arabian Cement Co. reported a 7.8 percent decline in sales, falling to SR402.8 million in the first half of 2024 compared to the same period last year.
In a statement to the Tadawul, the company said that the decrease in sales price was due to a decrease in demand, despite the increase in sales price for the parent company. – mother
However, its net profit increased by 7.6 percent in the first six months of this year to SR83.1 million compared to SR77.2 million in the same period last year. last year.
Reducing the group's sales costs, increasing the average cost of the parent company, and reducing sales and distribution expenses.
The revenue of Arabian Pipes Co. during this period it rose by 22.3 percent to reach SR651.8 million. Its net profit also rose to SR111.8 million, marking an increase of 96.3 percent compared to the same period in 2023.
The company pointed to revenue growth on higher sales volume, with operating profit rising to SR180.5 million in the 2024 financial year. from SR99.4 million in the previous 12-month period. This growth is the result of improved production efficiency and supply chain management, as well as ongoing efforts to reduce production costs.
