Riyadh: Saudi Arabia's Tadaul Al Share index closed down 54.03 points or 0.44 percent at 12,121.40 on Monday.
The benchmark index's total trading volume was SR6.90 billion ($1.84 billion) as 69 of the listed stocks advanced, while 150 retreated.
The MSCI Tadawul index closed down 5.19 points, or 0.34 percent, at 1,519.30.
The Kingdom's parallel market NOMU closed up 10.08 points, or 0.04 percent, at 26,513.06. Of these listed stocks, 28 advanced, while as many as 31 retreated.
The best performing stock of the day was Kingdom Holding Company, with its share price rising 9.50 percent to SR9.80.
Other top performers include Saudi Automotive Services Inc. and Tanmiyah Food Co., whose share prices rose 6.14 percent and 3.43 percent to SR62.20 and SR132.80, respectively.
Other top gainers include National Company for Glass Industries and Al-Razhi Co.
The worst performers were Fifty-Two Companies whose share price fell 4.25 percent to SR47.30.
Other notable decliners included Buruj Cooperative Insurance Company and City Cement Company, whose share prices fell 3.87 percent and 3.68 percent to SR20.86 and SR18.84, respectively.
Share prices of Saudi Manpower Solutions Company and Al Sagar Cooperative Insurance Company have also decreased.
Ahead of the announcements, Arabian Cement Company reported a 7.8 percent drop in sales in the first half of 2024 to SR402.8 million compared to the same period last year.
In a statement to the Tadawul, the company attributed the decrease in sales volume to reduced demand despite an increase in average selling price for the parent company.
However, in the first six months of this year, its net profit increased by 7.6 percent to 83.1 million riyals compared to 77.2 million riyals in the same period last year.
The increase was primarily driven by a decrease in the Group's cost of sales, an increase in the parent company's average selling price, and a decrease in selling and distribution expenses.
During the same period, Arabian Pipes Company's revenue increased by 22.3 percent to SR651.8 million. Its net profit also increased by 96.3 percent to SR111.8 million compared to the same period in 2023.
The company attributed the revenue growth to higher sales volume as net profit rose to SR180.5 million in fiscal 2024 from SR99.4 million in the previous 12-month period. This growth is primarily a result of improved production efficiency and supply chain management, as well as ongoing efforts to reduce production costs.
