RIYADH: Saudi Arabia's Tadawul All Share Index rose on Sunday, gaining 6.73 points, or 0.06 percent, to close at 12,195.05.
Total turnover in the benchmark index was SR6.12 billion ($1.63 billion) as 74 of the listed stocks advanced while 154 retreated.
The MSCI Tadawul index also closed in the green, gaining 2.46 points, or 0.16 percent, to 1,529.46.
The Kingdom's parallel market, Nomu, rose 67.8 points, or 0.26 percent, to 25,770.14 points. This comes as 27 of the listed stocks advanced while as many as 34 retreated.
The best performing stock of the day was Saudi Manpower Solutions Co., whose share price rose 9.88% to SR10.34.
Other top performers include Maharah Human Resources Co., as well as Al-Baha Investment and Development Co., whose share prices rose 8.35% and 8.33% to SR 6.88 and 0, respectively. 13 SR.
The worst performer was Electrical Industries Co., whose share price fell 5.51 percent to SR 6.00.
Other notable decliners included Alinma Hospitality REIT Fund and The Mediterranean and Gulf Insurance and Reinsurance Co., with share prices down 3.38% to SR8.29 and 3.25% to SR29.80, respectively.
Regarding the announcement, Saudi Tadawul Holding Co. reported an increase in profit to SR 146 million for the second quarter of 2024, reflecting a 55% increase from SR 105.2 million in the same period last year.
The company attributed this increase to a 50.3 percent increase in operating income, which reached SR 741.1 million in the first half of 2024, compared to SR 493.0 million in the corresponding period of the previous year.
According to a press release from the stock exchange, Saudi Arabian Asbestos Co. reported a net profit of SR 5.11 million for the second quarter of 2024, reversing a net loss of SR 10.08 million from the same quarter last year, marking a 150.7% improvement.
This positive change was attributed to a 17.4% increase in revenue due to expanded sales and higher volume of new orders.
Kingdom Holding Co., Sumou Holding Co. and Jeddah Economic Co. signed an agreement to establish a new SR6.8 billion fund to acquire Alinma Jeddah Economic Fund, currently owned by Jeddah Economic Co. Kingdom Holding Co. will own a 40% stake in the new fund.
