Riyadh: In the first trading session of the week, Saudi Arabia's Tadaul Al Share index increased by 149.22 points or 1.24 percent to close at 12,175.43 on Sunday.
Total trading volume of the benchmark index was SR6 billion ($1.6 billion) as 143 stocks advanced, while 84 retreated.
The Kingdom's parallel market Nomu also closed up 82.97 points, or 0.31 percent, at 26,502.98. This came as 36 stocks rose and 34 fell.
The MSCI Tadawul index rose 22.36 points, or 1.49 percent, to close at 1,524.49.
The best performing stock of the day was Kingdom Holding Company. The company's share price rose 9.95 percent to SR8.95.
Other top performers include Miahona Co. and Saudi Manpower Solutions Company.
The worst performer was Almunazem Foods Company, whose share price fell 4.66 percent to SR98.20.
Sabic Agri-Nutrients Co. has released its interim consolidated financial results as of the end of June 30.
According to a Tadawul statement, the firm's net profit at the end of the first six months of 2024 was SR1.54 billion, down 5.26 percent from the same period in 2023.
The decline in net profit included a 6 percent decline in average selling price, which was limited by a 2 percent decline in sales volume.
Dr. Sulaiman Al-Habib Medical Services Group has also released its interim financial results for the first six months of 2024.
A share filing showed the firm's net profit for the period ended June 30 reached SR1.1 billion, up 13.2 percent from the first six months of 2023.
The increase in net profit is mainly due to increase in revenue due to increase in number of patients.
The company also announced the board of directors' decision to distribute a cash dividend of SR409.5 million to shareholders for the second quarter of 2024.
The total number of shares eligible for dividend is 350 million, with a dividend of SR1.17 per share, according to a separate Tadaul statement.
It also disclosed that the percentage of dividend on par value of shares is 11.7 percent.
Saudi Arabia's National Shipping Company, also known as Bahri, announced its interim financial results for the period ending June 30.
The firm's net profit rose 20 percent year-on-year to SR1.18 billion in the first six months of 2024. This increase was primarily attributable to an increase in gross profit and financial income.
“Bahri had a good first half of the year and delivered commendable operational performance across our divisions,” Bahri CEO Ahmed Ali Al-Subay said in a statement. “Our success was driven by optimized fleet management and route efficiency, supported by improved market conditions for VLCCs (very large crude carriers) and chemical tankers.”
The Capital Markets Authority has issued a resolution approving Arabian Contracting Services Company's request to increase its capital from SR 500 million to SR 550 million. One bonus share is issued for every 10 owned by the shareholders listed in the registry registered with the Securities Depository Center at the end of the second trading day after the specified date, as determined later by the board of the firm.
According to a statement, such increase will be paid for by transferring SR50 million from the “retained earnings” account to the company's capital.
Eligible investors can start subscribing for 750,000 shares of ASG Plastic Factory Company on July 28. The firm is set to list on the Nomu parallel market at SR40 and SR44 per share.
The proposed holdings represent 10.64 percent of the post-initial public issue capital of SR70.5 million, or 11.90 percent of the pre-IPO capital, divided into 7.05 million shares at a par value of SR10 each.
