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.
Total trading turnover of the benchmark index was SR 6.90 billion ($1.84 billion), with 69 listed stocks advancing, while 150 retreated.
The MSCI Tadawul index closed down 5.19 points or 0.34 percent at 1,519.30.
Parallel market Nomu Kingdom closed up 10.08 points, or 0.04 percent, at 26,513.06. Meanwhile, 28 listed stocks advanced, while 31 retreated.
The best performing stock of the day was Kingdom Holding, which rose 9.50% to SR9.80.
Other top performers included Saudi Arabia Automotive Services and Tanmiah Foods, whose shares rose 6.14 percent and 3.43 percent to SR62.20 and SR132.80, respectively.
National Glass Industry Company and Al-Rajhi Company for Cooperative Insurance were the other top winners.
The worst performer was Bhavan, whose share price fell 4.25% to SR 47.30.
Boruj Cooperative Insurance Company and Siman Shahr Company decreased by 3.87% and 3.68% to 20.86 and 18.84 SRR, respectively.
Saudi Arabia Manpower Solutions Company and Al-Sagher Cooperative Insurance Company also saw their share prices decrease.
On the announcements front, Arab Cement Company reported a 7.8% decline in sales to $402.8 million in the first half of 2024 compared to the same period last year.
In a statement to the Tadawul, the company attributed the decline in sales volume to lower demand, despite an increase in the average selling price for the parent company.
However, its net profit in the first six months of this year rose 7.6 percent to 83.1 million tranches compared to 77.2 million dollars in the same period last year.
The increase was mainly due to a decrease in the group's cost of sales, an increase in the average selling price of the parent company, and a decrease in selling and distribution expenses.
In the same period, the revenue of Arab Pipes Company increased by 22.3% to 651.8 million dollars. Its net profit also increased to SR 111.8 million, representing a 96.3% increase over the same period in 2023.
The company attributed the increase in revenue to higher sales volume, with net profit rising due to an increase in gross profit to SR 180.5 million in fiscal 2024 from SR 99.4 million in the previous 12-month period. This growth is largely the result of improved production efficiency and supply chain management, as well as ongoing efforts to reduce production costs.
