RIYADH: Saudi Arabia’s Tadawul All Share Index gained 17.84 points, or 0.16 percent, to close at 10,839.49 on Sunday.
While MSCI Tadawul 30 index ended flat at 1,499.46, parallel market Nomu fell 73.53 points to close at 19,252.34.
TASI’s benchmark index had a total trading turnover of SR3.24 billion ($860 million) on Sunday, with 104 stocks advancing and 101 retreating out of 223 listed.
Fawaz Abdulaziz Alhokair Company, also known as Senomi Retail, was the day’s top gainer, rising 9.98 percent to SR17.64. Senomi Retail on Sunday informed the exchange of its plans to sell 26 non-strategic brands in a bid to rationalize its brand portfolio.
In the first phase of its transformation programme, the franchise retailer has decided to sell three brands under Azal Restaurant and Shawarma Almuhal for SR25 million.
The company said it wants to focus on “champion brands” that hold the No. 1 or No. 2 positions in their sectors.
Other top beneficiaries were Abdulmohsen Alhokair Group for Tourism and Development, Halwani Brothers Company, Knowledge Economic City and Al Sagar Cooperative Insurance Company.
The worst performer on Sunday was Development Works Food Company, which declined 3.27 per cent to SR165.80. Other poor performers included ACWA Power Company, Saudi Industrial Investment Group, Tihama Advertising and Public Relations Company and Maharaj Human Resource Company.
In sectoral indices, nine of the 21 listed on the stock exchange declined while the rest advanced.
The utilities index was the worst-performing sector as it declined 2 percent to 7,152.92, as weighed by ACWA Power which fell 3.08 percent to SR150.80.
While Alkhorayef Water and Power Technologies Co. fell 2.04 percent to SR144.20, while National Gas and Industrialization Co. fell 0.39 percent to SR51.60.
The insurance index was the best performing index, attributed to Al Sagar Cooperative Insurance Company, which advanced 5.35 percent to SR16.14. On the other hand, the Arab Insurance Cooperative Company rose by 3.95 percent to SR11.06. Other beneficiaries include Alinma Tokio Marine Company, Aljazira Takaful Touni Company and Salama Cooperative Insurance Company.
On the announcements front, Saudi Arabia’s Amiantit Company on Sunday reported a net loss after zakat and tax to SR8.8mn in 2022 from SR171.3mn in the previous year.
Net loss fell due to continued sales growth as revenue grew 16 percent from SR438.91 in 2021 to SR508.82 in 2022. Its share price rose 4.51 percent to SR44.
The Arab Insurance Cooperative Company informed the exchange on January 27 that the Saudi Central Bank has issued final approval on its insurance product for corporate business. In a filing to Tadawul, the insurer said the approved product is a professional indemnity insurance policy for auditors of entities supervised by the Capital Market Authority. AICC’s share price rose 3.95 percent to SR11.06.
The Saudi Exchange also announced that Alkemam, a computer systems company, will be listed and begin trading as a direct listing with the symbol 9558 on the Nomu-Parallel Market on Tuesday, January 31. Furthermore, the company has set its price guidance at SR80. per share.