RIYADH: Saudi Arabia's Tadawul All-Share Index ended the first trading session of the week on Sunday with a loss of 291.41 points, or 2.42 percent, to close at 11,754.37.
Total trading turnover of the benchmark index was SR 6.45 billion ($1.72 billion), with 10 stocks advancing and 223 stocks retreating.
The kingdom's parallel market, Nomu, fell 480.44 points, or 1.81 percent, to close at 26,128.86. Meanwhile, 17 shares grew and 53 shares retreated.
The MSCI Tadawul Index also fell 37.35 points or 2.47 percent to close at 1,475.24.
The best performing stock of the day was Cooperative Insurance Company known as Tawuniya, which gained 7.99% to SR 154.00.
Other top performers include Almasane Alkobra Mining Co as well as Taleem REIT Fund.
The worst performer was Kingdom Holding, whose share price fell 10 percent to SR8.28.
Other underperforming companies include Al Taiseer Group Talco Industrial Co. and Zahrat Alwaha for Trading Co.
On the announcements front, Herfi Food Services announced its interim financial results for the period ended June 30.
The company reported a net loss of SR 23.24 million for the first six months of 2024, compared with SR 8.27 million in the same period last year, according to a Tadawul statement.
The increase in net loss is due to an increase in sales and marketing expenses, which is caused by an increase in delivery request costs, as well as an increase in general and administrative expenses.
Albaha Investment and Development Company reported its interim financial results in the first half of this year. The company's net profit for the period ended June 30 reached 2.91 million rubles, which represents a 296 percent increase compared to the same period in 2023.
The increase in net profit is primarily attributed to the high occupancy rate in the group's complexes.
Adart Communication and Information Technology Company, a part of Adart group, also published the interim financial results ending on June 9.
According to a Tadawul statement, the company's net profit rose 40 percent year-on-year to SR11.58 million in the first half of 2024.
This increase is mainly due to an increase in gross and operating profit along with a decrease in general and administrative expenses.
Saudi Reinsurance Company has also published its interim financial results for the first six months of 2024.
The stock exchange filing showed that the company's net profit in the first half of 2024 has reached 27.59 million trends, which has increased by 12.6 percent compared to the same period last year.
This increase in net income was attributed to a 20% increase in insurance services net results, 68% growth in business and higher net investment results.
Sumo Properties announced its interim financial results for the six months ended June 30.
According to a Tadawul statement, the company's net profit rose 7.8 percent year-on-year to SR 53.49 million. The increase is attributed to higher revenues from new real estate projects and improved investment returns in related companies.
Al-Rajhi Bank presented its interim financial results in the first half of this year by filing a stock exchange file, showing that the bank's net profit has reached 9.1 billion Rials, which has increased by 9.74% compared to the same period last year.
This growth was primarily due to a 5.6% increase in total operating income, driven by a net increase in financing and investment income, higher fees from banking services and transaction income.
