RIYADH: Saudi Arabia’s Tadawul All Share Index rose by 1.06 percent, or 125.38 points, to reach 12,008.31 points on Monday.
The total trading turnover of the benchmark index was SR5.7 billion ($1.54 billion), as 171 of the listed stocks advanced, while 55 retreated.
The MSCI Tadawul Index increased by 19.61 points, or 1.32 percent, to close at 1,506.99.
The Kingdom’s parallel market Nomu also increased, gaining 161.19 points, or 0.61 percent, to close at 26,719.03 points. This came as 38 of the listed stocks advanced, while 33 retreated.
Al-Baha Investment and Development Co. was the top performer, with its share price increasing by 8 percent to SR0.27. Development Works Food Co. and Saudi Reinsurance Co. followed with gains of 6.88 percent to SR143 and 6.83 percent to SR37.55, respectively.
Other notable performers included Al-Omran Industrial Trading Co., which rose 5.42 percent to SR41.80, and Saudi Arabian Mining Co., which saw a 4.28 percent increase to close at SR53.60.
Riyadh Bank reported a 15.9 percent year-on-year increase in net profit for the first nine months of the year, reaching SR7 million. The bank also recorded a 14.9 percent rise in assets to SR433.3 million and a 14.2 percent growth in investments to SR66.1 million, according to a bourse filing.
Riyadh Bank attributed the profit growth to higher total operational income and lower operational expenses. Its shares closed at SR24.84, up 2.22 percent.
National Medical Care Co. posted a 17.8 percent increase in revenue for the same period, reaching SR921,145. This growth was driven by increased business from key clients, including the General Organization for Social Insurance and the Ministry of Health.
Net profit rose 18.8 percent to SR210,973, boosted by lower cost of sales and favorable Zakat assessments. Despite these gains, the company faced higher marketing expenses and provisions for credit losses. Its share price fell 3.16 percent to SR184.
On Nomu, Quara Finance Co. reported a 2.5 percent year-on-year increase in revenue for the first six months of the year, reaching SR100.52 million driven by higher yields from its retail portfolio. However, net profit dropped 9.4 percent to SR25.25 million due to increased impairment charges and write-offs.
Source: www.arabnews.com