RIYADH: Saudi Arabia's Tadawul All Share Index rose on Sunday, gaining 104.57 points, or 0.90 percent, to close at 11,771.69.
Total trading turnover for the benchmark index was SR5.09 billion ($1.35 billion) as 162 stocks advanced, while 61 retreated.
The Kingdom's parallel market Nomu fell 293.95 points, or 1.14 percent, to close at 25,521.34. This comes as 28 stocks advanced, while 39 retreated.
The MSCI Tadawul Index rose 17.22 points, or 1.18 percent, to close at 1,480.07.
Thimar Development Holding Co. led the day's stock performance, with the share price jumping 9.97 percent to SR40.80.
Other notable winners were Al-Babtain Power and Telecommunication Co., and Fawaz Abdulaziz Alhokair Co.
The worst performer was Baazeem Trading Co. whose share price fell by 9.05 percent to SR6.53.
Other notable decliners include Wafrah for Industry and Development Co. and Al Moammar Information Systems Co.
On the announcement front, Fawaz Abdulaziz Alhokair Co., also known as Cenomi Retail, reported its interim financial results for the period ended June 30.
According to a statement from Tadawul, the company recorded a net loss of SR67.6 million in the first half of the year, compared with a net profit of SR113.8 million in the same period last year.
The decrease was mainly due to lower revenues, a slight decrease in selling, general and administrative expenses, increased net financing costs and a decrease in Zakat and income tax expenses, despite an increase in other operating income.
Al Gassim Investment Holding Co. reported a net loss of SR 3.58 million for the first half of 2024, down from the net profit of SR 1.39 million recorded in the same period last year.
This turnaround was mainly due to increased zakat provisions, higher general and administrative expenses as well as an increase in provisions for expected credit losses. In addition, the reduction in financing income and despite higher other income contributed to the loss.
Al-Moammar Information Systems Co. reported a net profit of SR 116 million for the period ended June 30, up 20 percent from the same period in 2023. The increase was driven by a one-time gain of SR 80 million from the divestment of shares in its associate company Edarat and the valuation of data center units.
Saudi Awwal Bank has announced that its board of directors has approved a cash dividend of SR 2.05 billion for the first half of fiscal year 2024.
According to a statement on the Tadawul, the dividend will be allocated to 2.05 billion shares, with a dividend of SR1 per share net of Zakat. The dividend corresponds to 10 percent of the share's nominal value.
