Saudi benchmark index inches up 0.26% to close at 12,386
RIYADH: Saudi Arabia's Tadawul All Share Index rose on Sunday, gaining 32.12 points, or 0.26 percent, to close at 12,386.16.
The total trading turnover on the benchmark index reached SR5.11 billion ($1.36 billion), with 161 stocks advancing and 69 retreating.
The Kingdom's parallel market, Nomu, also saw a modest gain, rising 49.70 points, or 0.16 percent, to close at 30,896.29, as 49 stocks advanced and 42 declined.
The MSCI Tadawul Index closed up by 2.01 points, or 0.13 percent, finishing at 1,545.39.
Kingdom Holding Co. emerged as the day's top performer, with its share price surging 9.80 percent to SR10.20. Other notable performers included Al-Baha Investment and Development Co., which rose 9.30 percent to SR0.47, and Saudi Fisheries Co., whose share price jumped 7.84 percent to SR24.28.
On the downside, Al-Jouf Cement Co. recorded the largest drop, falling 3.57 percent to SR12.44. Arabian Pipes Co. also saw its stock decline by 2.50 percent, closing at SR13.26, while Rasan Information Technology Co. dropped 1.94 percent to SR90.80.
On the announcements front, Al-Baha Investment and Development Co. announced its annual financial results for the period ending Dec. 31. The company reported a net profit of SR8.37 million for 2024, a 69.48 percent increase compared to 2023. The growth was primarily driven by a 13 percent rise in revenues, a 98 percent drop in zakat provisions, a 39 percent reduction in financing costs, and a decline of SR1.18 million in investment properties.
Al-Moammar Information Systems Co. has signed a SR58.6 million contract with the Saudi Authority for Data and Artificial Intelligence to enhance the AI network through software and services.
According to a bourse filing, the 36-month deal is expected to generate positive financial impacts starting in Q1 2025. The stock closed at SR160.40, up 0.51 percent.
Al-Sagr Cooperative Insurance Co. received an Insurer Financial Strength Rating of 'BBB' and a National IFS Rating of 'A+' with a stable outlook from Fitch Ratings.
The ratings reflect Al-Sagr's strong capitalization, solid financial performance, and well-diversified insurance portfolio, despite its moderate operating scale within the Saudi insurance market. Al-Sagr's stock closed at SR18.10, up 3.20 percent.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Leaders
4 days ago
- Leaders
Saudi Aramco Completes $5 Billion Bond issuance
Saudi oil giant Aramco has completed a $5 billion issuance of bonds across three tranches under its Global Medium Term Note Program, according to the Saudi Press Agency. Saudi Aramco has classified the three tranches as follows: $1.5 billion in senior notes maturing in 2030 with a coupon rate of 4.750% $1.25 billion in senior notes maturing in 2035 with a coupon rate of 5.375% $2.25 billion in senior notes maturing in 2055 with a coupon rate of 6.375% The company also noted that the tranches were priced on May 27, 2025. Meanwhile, the notes were successfully listed on the London Stock Exchange. Aramco's Executive Vice President of Finance and CFO Ziad Al-Murshed stated that the strong demand for the new bond offering stands as a testament to global investors' confidence in Aramco's financial resilience and robust balance sheet. 'Pricing the offering with no new issuance premium across all tranches clearly reflects Aramco's unique long-term credit proposition,' Al-Murshed added. Related Topics: CST, Aramco Digital Launch AI-Powered Crowd Management Trial at Holy Sites China Is Major Market for Saudi Aramco: CEO Saudi Aramco Records $106bn Profits in 2024 Short link : Post Views: 43 Related Stories
Saudi Gazette
4 days ago
- Saudi Gazette
62 air carriers operate 3,314 Hajj flights from 238 destinations
Saudi Gazette report MAKKAH — Saleh Al-Zuwaid, spokesman for the Hajj Transport and Logistics System, said that a total of 62 air carriers operated as many as 3,314 Hajj flights carrying pilgrims from 238 destinations in 71 countries around the world. Addressing a press conference for Hajj season transportation and communications system spokespersons at Hajj Media Operations Center in Makkah on Monday, Al-Zuwaid noted that the reception of pilgrims was conducted with the highest level of operational efficiency, contributing to the smooth flow of pilgrims' arrival and movement. Regarding the Haramain High Speed Rail, Al-Zuwaid stated that 4,700 trips were scheduled throughout the season with a capacity of up to two million passengers, an increase of 400,000 seats over last year. The number of trips between King Abdulaziz International Airport Station and Makkah has also been increased by 75percent compared to last year, reaching an average of approximately one trip per hour. He noted that 700,000 passengers had been transported on the Haramain High Speed Rail by Sunday, stressing that it will continue to provide services to pilgrims to meet their expectations. Regarding the Mashaer Train, the spokesperson confirmed that more than 2000 trips are expected to operate this season to transport more than 2 million passengers in 7 days. Al-Zuwaid explained that the use of road cooling technology in the holy sites has expanded by 82 percent compared to last year. "This technology has proven effective in reducing road surface temperatures by 12 degrees Celsius, especially in areas surrounding the Namirah Mosque and the holy sites," he added. For his part, Saad Al-Shanbari, spokesperson for the Hajj Communications and Technology System, stated that 4G and 5G coverage in Makkah, Madinah, and the holy sites reached 99 percent, resulting in a significant increase in internet speed, reaching 264 megabits per second, a 10 percent increase over last year. "Internet speed in Makkah and Madinah alone this year reached 336 megabits per second, a 19 percent increase over last year," he said. Al-Shanbari noted that Wi-Fi access points in Makkah, the holy sites, and Madinah reached more than 10,000 during this year's Hajj, in partnership with telecommunications service providers. He also emphasized that the Communications and Space Technology Commission (CSTC) was able to utilize the latest innovations during this season, successfully implementing, in partnership with Aramco, an artificial intelligence (AI) crowd management experiment using HAI surveillance cameras.
Arab News
5 days ago
- Arab News
Closing Bell: Saudi main index closes in red at 10,832
RIYADH: Saudi Arabia's Tadawul All Share Index slipped on Tuesday, as it shed 17.66 points, or 0.16 percent, to close at 10,832.43. The total trading turnover of the benchmark index was SR3.55 billion ($946 million), with 123 of the listed stocks advancing and 106 declining. The Kingdom's parallel market Nomu gained 65.84 points to close at 27,049.84. The MSCI Tadawul Index edged down by 0.08 percent to 1,383.41. The best-performing stock on the main market was Fawaz Abdulaziz Alhokair Co., with its share price surging by 6.71 percent to SR17.50. The share price of Naseej International Trading Co. also rose by 6.14 percent to SR83. Saudi Research and Media Group also saw its stock price rising by 5.92 percent to SR150.40. Conversely, the share price of United Carton Industries Co., dropped by 3.98 percent to SR41. On the announcements front, Meyar Co. said that it received a contract worth SR1.67 million from the Municipality of Unaizah. In a Tadawul statement, the company revealed that the agreement includes the supply of curbs stones and interlock tiles to the municipality. It added that there are no related parties involved in the deal. The share price of Meyar Co. edged up by 0.93 percent to SR54. Dar Almarkabah for Renting Cars Co. said that it signed a chauffeur-driven car rental contract valued at SR6.98 million with Wareed Health Medical Co. In a Tadawul statement, the company revealed that the contract period is valid for 24 months, adding that the impact of the deal will be visible in the firm's financials during the second quarter of this year. The share price of Dar Almarkabah for Renting Cars Co. was unchanged at SR2.47.
