RIYADH: Saudi Arabia's Tadawul All Share index rose on Sunday, gaining 104.57 points, or 0.90 percent, to 11,771.69.
The benchmark's total turnover was SR5.09 billion ($1.35 billion) as 162 of the stocks advanced while 61 retreated.
The Kingdom's parallel market, Nomu, fell 293.95 points, or 1.14 percent, to 25,521.34 points. This comes as 28 stocks advanced while 39 retreated.
The MSCI Tadawul index gained 17.22 points, or 1.18 percent, to close at 1,480.07.
Thimar Development Holding Co. led the day's stock performance, its share price rising 9.97% to SR 40.80.
Other noted winners included Al-Babtain Power and Telecommunication Co. and Fawaz Abdulaziz Alhokair Co.
The worst performer was Baazeem Trading Co., whose share price fell 9.05% to SR6.53.
Other notable decliners included Wafrah for Industry and Development Co. and Al Moammar Information Systems Co.
In terms of announcements, Fawaz Abdulaziz Alhokair Co., also known as Cenomi Retail, reported its interim financial results for the period ended June 30.
According to a Tadawul statement, the company posted a net loss of SR67.6 million in the first half of the year, compared to a net profit of SR113.8 million in the same period last year.
The decrease was primarily due to lower revenues, a slight decrease in selling, general and administrative expenses, an increase in net financial expenses and a decrease in Zakat and income tax expenses, despite an increase in other operating income.
Al Gassim Investment Holding Co. reported a net loss of SR 3.58 million for the first half of 2024, down from a net profit of SR 1.39 million recorded in the same period last year.
This recovery was primarily due to an increase in zakat provisions, higher general and administrative expenses and an increase in provisions for expected credit losses. In addition, the decline in financing income and despite the increase in other income, contributed to the loss.
Al-Moammar Information Systems Co. reported a net profit of SR 116 million for the period ended June 30, marking a 20% increase over the same period in 2023. The increase was driven by a one-off gain of SR 80 million from the disposal of shares in associate firm Edarat and evaluation of data center units.
Saudi Awwal Bank announced that its board of directors has approved a cash dividend distribution of SR2.05 billion for the first half of fiscal year 2024.
According to a statement on Tadawul, the dividend will be allocated for 2.05 billion shares, with a dividend of SR1 per share after deducting Zakat. Dividends represent 10 percent of the nominal value of the share.
