RIYADH: The Saudi Tadawul All Share Index ended the first trading session of the week on Sunday, losing 291.41 points, or 2.42 percent, to close at 11,754.37.
The benchmark index traded a total of SR6.45 billion ($1.72 billion), with 10 stocks advancing and 223 retreating.
The parallel market of the Kingdom of Nomu fell 480.44 points, or 1.81 percent, to close at 26,128.86. This comes from the fact that 17 stocks advanced and 53 retreated.
The MSCI Tadawul also fell 37.35 points, or 2.47 percent, to close at 1,475.24.
The best performing stocks of the day were The Co. for Cooperative Insurance, also known as Tawuniya, whose share price rose 7.99% to SR 154.00.
Other top performers include Almasane Alkobra Mining Co. as well as Taleem REIT Fund.
The worst performer was Kingdom Holding Co., whose share price fell 10 percent to SR8.28.
Other underperformers include Al Taiseer Group Talco Industrial Co. and Zahrat Al-Waha for Trading Co.
On the messaging front, Herfy Food Services Co. disclosed its interim financial results for the period ended June 30.
The company reported a net loss of SR23.24 million for the first six months of 2024, compared with SR8.27 million for the same period a year earlier, according to a Tadawul filing.
The increase in net loss was due to higher selling and marketing expenses due to higher application delivery costs and higher general and administrative expenses.
Al-Baha Investment and Development Co. published interim financial results for the first half of this year. The company's net profit for the period ended June 30 reached SR 2.91 million, an increase of 296 percent compared to the same period in 2023.
The increase in net profit is primarily due to the high occupancy of the group's complexes.
Edarat Communication and Information Technology Co., part of the Edarat Group, also posted interim financial results for the period ended June 30.
The firm's net profit rose 40 percent year-on-year to SR11.58 million in the first half of 2024, according to a Tadawul filing.
This increase is primarily due to higher gross and operating income and lower general and administrative expenses.
Saudi Reinsurance Co. also published interim financial results for the first six months of 2024.
The stock exchange showed that the company's net profit for the first half of 2024 reached SR27.59 million, up 12.6 percent from the same period last year.
This increase in net income was due to a 20 percent increase in net insurance results, a 68 percent increase in business and higher net investment results.
Sumou Real Estate Co. announced interim financial results for the six months ended June 30.
The company's net profit rose 7.8 percent year-on-year to SR53.49 million, according to a Tadawul filing. The increase is due to higher revenues from new real estate projects and higher returns on investments in related firms.
Al-Rajhi Bank reported its interim financial results for the first half of this year, with a stock filing showing that the bank's net income reached SR9.1 billion, up 9.74 percent year-on-year.
This increase was largely driven by a 5.6 percent increase in total operating income due to higher net financing and investment income, higher banking fees and exchange income.
