Closing Bell: Saudi main index slips to close at 11,411
The total trading turnover of the benchmark index was SR3.5 billion ($944.3 million), as 41 stocks advanced and 198 retreated.
Similarly, the Kingdom's parallel market Nomu lost 116.45 points, or 0.41 percent, to close at 28,013.32. This comes as 30 of the listed stocks advanced while 39 retreated.
The MSCI Tadawul Index lost 20.74 points, or 1.41 percent, to close at 1,451.17.
The best-performing stock of the day was Umm Al Qura for Development and Construction Co., whose share price surged 2.77 percent to SR25.95.
Other top performers included National Industrialization Co., which saw its share price rise 2.26 percent to SR9.49, and Arabian Contracting Services Co., whose share price increased 1.69 percent to SR132.00.
Zahrat Al Waha for Trading Co. recorded the most significant drop, falling 7.05 percent to SR27.70.
Saudi Automotive Services Co. saw its stock prices fall 5.67 percent to SR61.50.
Emaar The Economic City also saw its stock prices decline 4.50 percent to SR14.00.
On the announcements front, Dar Alarkan Real Estate Development Co. reported its interim financial results for the period ending March 31.
According to a Tadawul statement, the company posted a net profit of SR209.34 million in the first quarter of 2025, marking a 36.2 percent increase compared to the same quarter in 2024.
The rise in net income was primarily driven by higher property sales. Increased lease revenues, lower finance costs, and greater non-operating income from Islamic Murabaha deposits also contributed to the gains, though these were partially offset by higher operating expenses and reduced earnings from associates.
Dar Alarkan Real Estate Development Co. ended the session at SR21.04, down 1.05 percent.
Saudi Aramco Base Oil Co. – Luberef has announced its interim financial results for the first quarter of 2025. A bourse filing showed the company recorded a net profit of SR221.5 million for the period ending March 31, reflecting a 7.3 percent decline compared to the same quarter last year. The drop in earnings was mainly due to lower by-product crack margins, despite an increase in base oil crack margins.
Luberef's shares closed the session at SR98.70, down 0.20 percent.
Dr. Sulaiman Al Habib Medical Services Group has announced its interim financial results for the period ending March 31. According to a Tadawul statement, the firm posted a net profit of SR557.01 million in the first quarter of 2025, marking a 1.09 percent increase compared to the same quarter in 2024. The growth was primarily driven by higher revenue, although fixed operating costs from recent strategic expansions have temporarily weighed on profit margins. These expansions are still ramping up and are expected to gradually reach full operational efficiency.
The company's shares closed at SR289.00, down 2.15 percent.
The National Agricultural Development Co. reported its consolidated financial results for the first quarter of 2025, posting a net profit of SR103.42 million for the period ending March 31 — a 2.06 percent rise compared to the year-earlier period.
The increase was supported by higher revenue, reduced general and administrative expenses, stronger operating profit, and increased treasury income. These gains were partially offset by higher cost of sales, increased impairment losses on trade and other receivables, and a decline in finance costs.
NADEC shares ended the session at SR22.20, down 1.54 percent.
Saudi Basic Industries Corp. announced a net loss of SR1.21 billion for the first quarter of 2025, compared to a net profit of SR250 million in the same period last year. The loss was primarily due to a SR1.05 billion decline in gross profit, driven by higher feedstock prices and increased operating expenses. These included non-recurring costs of SR1.07 billion linked to a strategic restructuring initiative aimed at improving long-term performance and reducing costs.
SABIC shares closed at SR60.70, down 2.77 percent.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Argaam
8 hours ago
- Argaam
Marble Design completes 90% of subsidiary's showrooms, warehouses
Marble Design Co. completed 90% of work on showrooms and warehouses for its wholly owned subsidiary, Tareeq Al Maskan Real Estate Development Co., according to a statement to Tadawul today, Aug. 10. The company aims to introduce a new product — Sintered Stone Slabs, which are raw slabs manufactured from natural materials using modern technologies. The new product is shaped to order for use in interior and exterior architectural applications, in collaboration with the brand Techlam, a subsidiary of Spanish company Levantina. Marble Design is currently in the final stages of obtaining the necessary licenses to commence operations, with the financial impact of this expansion expected to be reflected in the second half of 2025. The company also noted that the land purchase, project construction, and acquisition of the necessary machinery for cutting Sintered Stone Slabs were all financed through the internal resources of Tareeq Al Maskan. According to Argaam 's data, Tareeq Al Maskan purchased, in August 2023, two land plots for SAR 4.95 million, to build a showroom and warehouse for the company's products.
Arab News
9 hours ago
- Arab News
Closing Bell: Saudi main index ends lower at 10,899
RIYADH: Saudi Arabia's Tadawul All Share Index declined on Sunday, losing 31.19 points, or 0.29 percent, to close at 10,899.11. The total trading turnover of the benchmark index stood at SR3.51billion ($935.8 million), with 77 listed stocks advancing and 169 declining. The Kingdom's parallel market Nomu also dropped 199.33 points to close at 26,449.38 The MSCI Tadawul Index slightly edged up by 0.03 percent to reach 1,407.12. The top performer on the main market was Red Sea International Co., whose share price rose 10 percent to SR42.24. The share price of Tamkeen Human Resource Co. increased 7.94 percent to SR57.1. Saudi Reinsurance Co. saw its stock price increase by 5.91 percent to SR47.66. Jahez International Co. for Information System Technology witnessed a drop in its share price by 10 percent to SR25.02. The company's share price decreased following the announcement that its net profit for the second quarter fell 21.9 percent year on year to SR23.6 million, down from SR30.2 million in the same quarter last year. In corporate announcements, Zamil Industrial Investment Co. posted a net profit of SR25.28 million in the second quarter, a 314.5 percent increase from SR6.1 million in the same quarter in 2024. The company attributed the rise in quarterly profit to higher sales across its air conditioning, steel, and insulation sectors, which drove a 25.7 percent increase in gross profit. This was further supported by a SR1.5 million rise in share of results from associates and joint ventures, lower financial charges by SR4.7 million, and a SR6.9 million reduction in zakat and income tax expenses. The company's share price closed 0.51 percent higher at SR39.80. United International Transportation Co., known as Budget Saudi, reported a net profit of SR85.63 million in the second quarter, up 20.8 percent from SR70.87 million last year. The company attributed the quarterly increase in profit to higher revenues driven by growth in its rental and lease fleet, improved operational efficiency, and stronger cost control measures, which boosted gross and operating margins. The company's share price ended 2.04 percent lower at SR72.20.
Argaam
15 hours ago
- Argaam
Watani Steel says partial fire erupts at external fuel tank in Riyadh factory
Watani Iron Steel Co. announced that a partial fire broke out in the external fuel tank at its factory in Riyadh on Saturday, August 9, morning. In a statement to Tadawul, the company said that the fire was brought under control by the competent authorities, which led to a temporary halt in production until the site was fully safe. The company further noted that there was no damage to the main production lines inside the factory, and there were no injuries or human losses.
