RIYADH: Saudi Arabia's Tadawul All-Share Index ended the first trading session of the week on Sunday up 149.22 points, or 1.24 percent, to close at 12,175.43.
Total trading turnover of the benchmark index was SR 6 billion ($1.6 billion), with 143 stocks advancing, while 84 stocks retreated.
The kingdom's parallel market, Nomu, also rose 82.97 points, or 0.31 percent, to close at 26,502.98. Meanwhile, 36 stocks grew and 34 stocks retreated.
The MSCI Tadawul index rose 22.36 points, or 1.49 percent, to close at 1,524.49.
The best performing stock of the day was Kingdom Holding Co. The company's share price increased by 9.95% to SR8.95.
Other top performers include: Miahona Co. and Saudi Manpower Solutions Co.
The worst performer was Almonajem Foods, whose share price fell 4.66% to SR98.20.
Sabic Agri-Nutrients announced its consolidated interim financial results for the period ended June 30.
According to the Tadawul statement, the company's net profit at the end of the first six months of 2024 reached SR1.54 billion, down 5.26% compared to the same period in 2023.
The decrease in net profit included a 6 percent decrease in average selling prices, which was capped by a 2 percent increase in sales volumes.
Dr. Suleiman Al Habib Medical Services Group has also announced its interim financial results for the first six months of 2024.
The company's net profit reached SR1.1 billion in the period ended June 30, a 13.2 percent increase from the first six months of 2023, a stock exchange filing showed.
The increase in net profit was mainly attributed to revenue growth following an increase in patient numbers.
The company also announced the board's decision to distribute SR 409.5 million as cash dividends to shareholders for the second quarter of 2024.
According to a separate Tadawul statement, the total number of shares eligible for the dividend reached 350 million, with a dividend of SR 1.17 per share.
It also showed that the percentage of dividends to the nominal value of shares was 11.7%.
Saudi Arabian National Shipping Company, also known as Bahri, announced its interim financial results for the period ending June 30.
The company's net profit rose 20 percent year-on-year to SR1.18 billion in the first half of 2024, a stock exchange filing revealed. This increase is mainly related to the increase in gross profit and financial income.
“Bahri had a good first half of this year and delivered commendable operational performance across our divisions,” Bahri CEO Ahmad Ali Al-Sababi said in a statement. Our success was driven by optimal fleet management and route efficiency supported by improved market conditions for VLCCs (Very Large Crude Carriers) and chemical tankers.
Capital Market Organization issued a resolution and approved the request of Arab Contracting Services Company to increase its capital from 500 million to 550 million rupees. This is done by issuing one bonus share for every 10 shares owned by shareholders registered in the Securities Depository Center by the end of the second trading day after maturity, as subsequently determined by the company's board of directors.
According to the statement, such an increase will be paid by transferring 50 million rials from the “accumulated profit” account to the company's capital.
Eligible investors can subscribe for 750,000 shares of ASG Plastic Factory Co. start on July 28. The company is set to list on the Nomu parallel market at a price between SR 40 and SR 44 per share.
The proposed assets represent 10.64% of the post-IPO capital of SR70.5 million, or 11.90% of the pre-IPO capital, which is divided into 7.05 million shares with a nominal value of SR10.
