RIYADH: Saudi Arabia’s Tadawul All Share Index fell 78.73 points — or 0.76 percent — to close at 10,305.02 on Monday, extending Sunday’s 79.36 points loss.
While MSCI Tadawul 30 Index closed flat at 1,4091.41, the parallel market Nomu closed 0.38 percent higher at 19,037.57.
The total trading turnover of the benchmark index was SR4.80 billion ($1.28 billion) as 65 stocks of the listed 224 advanced, and 139 retreated.
Jabal Omar Development Co. was the topmost company on Monday as its share price soared 5.45 percent to SR20.12.
The other top performers were Saudi Pharmaceutical Industries and Medical Appliances Corp., Saudi Paper Manufacturing Co., Mouwasat Medical Services Co., and Saudi Co. for Hardware.
Arab National Bank was the worst performer of the day as its share price slumped 5.86 percent to SR24.90.
On the announcements front, Gas Arabian Services Co. reported a 12 percent increase in net profit to SR67.4 million in 2022 from SR60.1 million in 2021 due to increased profit share from joint ventures and associates in 2022.
Its revenue increased 28.35 percent to SR496.04 million in 2022 from SR386.46 million in 2021.
The company’s board of directors recommended distributing a cash dividend at 22.5 percent of capital, or SR2.25 per share, for 2022, totaling R35.55 million. Its share price declined 1.02 percent to SR58.
Wataniya Insurance Co. cut its net losses to SR19 million in 2022 from SR55 million in 2021, as net claims incurred dropped by 10 percent, or SR38.74 million, year-on-year.
In the fourth quarter of 2022, the company reported a surge in net profit to SR12 million from SR300,000 in the year-ago period. Its share price fell slightly to SR16.06.
Filing and Packing Materials Manufacturing Co. reported a net profit of SR9.8 million for 2022, compared to a net loss of SR9.1 million a year earlier.
The company’s revenues increased 17 percent to SR260.7 million in 2022 from SR222.60 million in 2021.
According to its statement to the Saudi Stock Exchange, the healthy bottom line was driven by improved profit margins, lower expected credit loss provisions and a rise in “realized and unrealized gains of investments at fair value.” FIPCO’s share price closed flat at SR37.80.
Osool & Bakheet Investment Co. announced a 1.8 percent cash dividend to Al Maather REIT Fund unitholders for the fourth quarter of 2022 at SR0.18 per unit. The total dole out to the shareholder was SR11.05 million. Al Maather REIT Fund’s share price rose 1.05 percent to SR8.65.
Meanwhile, Mulkia Investment Co., the fund manager and operator of Mulkia Gulf Real Estate REIT Fund, announced that an additional offering to raise the total value of the fund’s assets will start on March 16 and continue until March 29.
The unit subscription price was set at SR6.68 per unit, and retail investors could subscribe to the offering through Al Rajhi Bank, Bank AlJazira, and Mulkia Investment’s website. The fund’s share price witnessed 2,268 trades and closed at SR7.40.