RIYADH: Saudi Arabia's Tadawul All Share Index fell on Monday, losing 54.03 points, or 0.44 percent, to close at 12,121.40.
The benchmark index traded a total of SR6.90 billion ($1.84 billion), with 69 of the listed stocks advancing and 150 retreating.
The MSCI Tadawul index fell 5.19 points, or 0.34 percent, to close at 1,519.30.
The parallel market of the Kingdom of Nomu gained 10.08 points, or 0.04 percent, to close at 26,513.06. This follows the fact that 28 of the listed stocks advanced, while 31 retreated.
The best performing stock of the day was Kingdom Holding Co., which rose 9.50% to SR9.80.
Other top performers include Saudi Automotive Services Co. and Tanmiah Food Co., whose shares rose 6.14% and 3.43% to SR62.20 and SR132.80, respectively.
Other top earners include National Co. for Glass Industries and Al-Rajhi Co. for Cooperative Insurance.
The worst performer was Bawan Co., whose share price fell 4.25 percent to SR47.30.
Other notable decliners include Buruj Cooperative Insurance Co . and City Cement Co., share prices fell 3.87% and 3.68% to SR 20.86 and SR 18.84, respectively.
Share price of Saudi Manpower Solutions Co. and Al Sagr Cooperative Insurance Co. also decreased.
As for the reports, Arabian Cement Co. reported a 7.8 percent decline in sales to SR 402.8 million in the first half of 2024 compared to the same period last year.
In a Tadawul filing, the company attributed the decline to lower sales due to lower demand, despite an increase in the average selling price for the parent company.
However, in the first six months of this year, net income rose 7.6 percent to SR83.1 million, compared to SR77.2 million in the same period last year.
The increase was primarily due to a decrease in the group's cost of sales, an increase in the average selling price of the parent company and a decrease in selling and distribution expenses.
Arabian Pipes Co. Revenues. grew by 22.3 percent during the same period to reach SR 651.8 million. Its net income also rose to SR 111.8 million, up 96.3 percent year-on-year in 2023.
The company attributed the rise in revenue to higher sales, with net income increasing due to a rise in gross profit to SR180.5 million in fiscal 2024 from SR99.4 million in the previous 12-month period. This growth is largely the result of improved manufacturing and supply chain management efficiencies, as well as ongoing efforts to reduce manufacturing costs.
