RIYADH: Saudi Arabia’s Tadawul All Share Index fell 17.83 points, or 0.16 percent, to close at 10,792.85 on Tuesday.
The MSCI Tadawul 30 index and the parallel market Nomu closed at 1,488.36 and 19,140.41, respectively.
TASI’s benchmark index had a total trading turnover of SR4.59 billion ($1.22 billion) on Tuesday, with 97 stocks advancing and 114 retreating out of 224 listed.
Allied Cooperative Insurance Group was the day’s top gainer, rising 8.77 per cent to SR12.40.
Other top gainers were Gulf General Cooperative Insurance Company, Wataniya Insurance Company, Saudi Ananya Cooperative Insurance Company and Arab Insurance Cooperative Company.
The worst performer on Tuesday was Middle East Paper Company, down 4.73 per cent to SR30.20.
Other poor performers included Abdulmohsen Alhokair Group for Tourism and Development, Fawaz Abdulaziz Alhokair Company, National Industrialization Company and Al-Baha Investment and Development Company.
In sectoral indices, 12 of the 21 listed on the stock exchange declined, while one remained flat and the rest advanced.
On the announcements front, Jarir Marketing Company, also known as Jarir Bookstores, reported that its net profit after zakat and tax is expected to decline by 2.23 percent to SR969.80 million in 2022 compared to SR991.90 million in 2022. Got million.
According to Tadawul’s statement, the firm sees an annual growth of 3.34 percent to SR9.39 billion in revenue in 2022, up from SR9.08 billion in the prior year.
Earnings per share reverted to SR8.08 during the January-December 2022 period from SR8.27 in 2021. Its share price rose 0.27 percent to SR150.40 on Tuesday
Nominee-listed Adarat Communications and Information Technology Company also reported a net profit of SR12.6 million in 2022, up 95 percent from SR6.5 million last year, driven by a 58 percent year-on-year increase in revenue. , Gross profit also increased by 83 per cent during the period under review.
On Tuesday, the National Agricultural Development Company also informed the stock exchange that it has sealed an MoU with the Saudi Investment Recycling Company to recycle biowaste to contribute to environmental protection.
In a statement to Tadawul, the two sides intend to recycle about 400,000 tons of organic waste per year and process them into high-efficient, organic fertilizers.
The company also announced its 2023-2027 strategy, which will strengthen its leadership locally and regionally by expanding current business operations, developing new markets, expanding its product line, and entering new ventures .
NADEC aims to become a vertically integrated food business, targeting SR6 billion revenue by 2027. Its share price rose 1.04 percent to SR23.24.
Meanwhile, the Saudi Investment Bank began offering its second tranche of Saudi riyal-denominated Tier 1 sukuk on January 31, with a minimum subscription value of SR1 million. Offer expires on February 5, 2023. SIB’s share price rose 1.35 per cent to SR17.98.
Alqemam for computer system co. made its maiden direct listing on the Nomu-Parallel Market on January 31 at SR80 per share with the symbol 9558. Unfortunately, its share price fell 9.37 percent to end at SR72.50 on its opening day.
On the dividend front, Alkhbeer Capital announced a payout of 1.05 percent or SR0.105 per unit to Alkhbeer REIT Fund unitholders for the period from October 1 to December 31, 2022, totaling SR14.81 million.