Closing Bell: Saudi main index rises to close at 10,983

Arab News

4 days ago

RIYADH: Saudi Arabia's Tadawul All Share Index rose on Wednesday, gaining 140.73 points, or 1.30 percent, to close at 10,983.93.
The total trading turnover of the benchmark index was SR5.34 billion ($1.42 billion), as 207 of the stocks advanced and 46 retreated.
Similarly, the Kingdom's parallel market Nomu gained 38.14 points, or 0.14 percent, to close at 26,778.15. This comes as 43 of the listed stocks advanced while 35 retreated.
The MSCI Tadawul Index gained 21.53 points, or 1.55 percent, to close at 1,411.73.
The best-performing stock of the day was Sport Clubs Co., whose share price surged 18.60 percent to SR11.03.
Other top performers included Middle East Specialized Cables Co., whose share price rose 7.56 percent to SR33.56, as well as Tourism Enterprise Co., whose share price surged 5.88 percent to SR1.08.
SICO Saudi REIT Fund recorded the most significant drop, falling 5.13 percent to SR4.07.
Obeikan Glass Co. also saw its stock price fall 3.22 percent to SR38.84.
Saudi Azm for Communication and Information Technology Co. also saw its stock prices decline 3.21 percent to SR26.50.
On the announcements front, Bank Albilad has announced its interim financial results for the period ending on June 30. According to a Tadawul statement, the firm recorded a net profit of SR1.46 billion during the first six months of the year, reflecting an 11.5 percent rise compared to the same period a year earlier. This climb is primarily attributed to a 9 percent increase in net income, driven by a rise in total operating income.
Dividend income, net gain on fair value through statement of income instruments, and other operating income have decreased. Total operating expenses increased by 7 percent, primarily driven by higher general and administrative costs, salaries and employee benefits, as well as depreciation and amortization. Despite this, there was a decline in net impairment charges for expected credit losses.
Bank Albilad ended the session at SR25.78, up 3.20 percent.
The Saudi Investment Bank has also announced its interim financial results for the first half of the year.
A bourse filing revealed that the company recorded a net profit of SR 1.01 billion for the period ending June 30, up 9.3 percent year over year.
This jump is primarily linked to an increase in total operating income. The Saudi Investment Bank ended the session at SR14.05, up 1.28 percent.
Yanbu Cement Co. also announced its condensed consolidated financial results for the six-month period ending on June 30.
According to a Tadawul statement, the firm recorded a net profit of SR51.5 million during the first half of 2025, reflecting a 47.4 percent decrease compared to the same period a year earlier.
The drop in net profit for the current period compared to last year is mainly due to lower domestic sales revenues driven by a decline in average selling prices, reduced margins from export sales, higher financing costs, and increased general and administrative expenses.
Yanbu Cement Co. ended the session at SR18.32, down 0.05 percent.