Riyadh: Saudi Arabia's Tadaul Al Share index closed at 11,754.37, down 291.41 points or 2.42 percent in the first trading session of the week on Sunday.
Total trading volume of the benchmark index was SR6.45 billion ($1.72 billion) as 10 stocks rose, while 223 retreated.
The Kingdom's parallel market NOMU closed down 480.44 points, or 1.81 percent, at 26,128.86. This came as 17 shares rose and 53 fell.
The MSCI Tadawul Index also closed down 37.35 points, or 2.47 percent, at 1,475.24.
The best performing stock of the day was the Company for Co-operative Insurance, also known as Tavuniya, whose share price rose 7.99 percent to SR154.00.
Other top performers included Almasane Alcobra Mining Company and Taleem REIT Fund.
The worst performer was Kingdom Holding Company, whose share price fell 10 percent to SR8.28.
Other underperformers were Al Tayseer Group Talco Industrial Company and Zahrat Al-Waha Fur Trading Company.
Ahead of the announcements, Herfy Food Services Co. disclosed its interim financial results for the period ending June 30.
According to a Tadawul statement, the company reported a net loss of SR23.24 million in the first six months of 2024, compared to SR8.27 million in the same period last year.
The increase in net loss was attributed to higher sales and marketing expenses, an increase in distribution application costs, as well as an increase in general and administrative expenses.
Al-Baha Investment and Development Company has announced the interim financial results for the first half of this year. In the period ended June 30, the company's net profit increased by 296 percent to SR 2.91 million compared to the same period in 2023.
The increase in net profit is mainly due to higher occupancy rate at the group's complexes.
Edarat Communication and Information Technology Co., a part of Edarat Group, has also released its interim financial results for the period ending on June 30.
According to a Tadawul statement, the firm's net profit rose 40 percent year-on-year to SR11.58 million in the first half of 2024.
This increase was primarily due to higher gross and operating profit as well as lower general and administrative expenses.
The Saudi Reinsurance Company has also released its interim financial results for the first six months of 2024.
The company's net profit for the first half of 2024 reached SR 27.59 million, a 12.6 percent increase compared to the same period last year, according to a share filing.
This increase in net income was driven by a 20 percent increase in net insurance service results, a 68 percent increase in business and higher net investment results.
Sumo Real Estate Company has released its interim financial results for the six months ending June 30.
According to a statement from Tadawul, the company's net profit rose 7.8 percent year-on-year to SR53.49 million. This growth is due to higher revenue from new real estate projects and improved return on investment in related firms.
Al-Razhi Bank reported that the bank's net profit reached SR9.1 billion in the first half of this year, an increase of 9.74 percent compared to the same period last year.
This increase was mainly due to a 5.6 percent increase in total operating income, an increase in net financing and investment income, higher fees from banking services and exchange income.
