RIYADH: Saudi Arabia's Tadawul All Share index fell on Monday, losing 54.03 points, or 0.44 percent, to 12,121.40 points.
Total turnover in the benchmark was SR6.90 billion ($1.84 billion) as 69 of the listed stocks advanced while 150 retreated.
The MSCI Tadawul index fell 5.19 points, or 0.34 percent, to 1,519.30.
The Nomu Kingdom's parallel market rose 10.08 points, or 0.04 percent, to 26,513.06 points. This comes as 28 of the listed stocks advanced while as many as 31 retreated.
The best performing stock of the day was Kingdom Holding Co., with its share price rising 9.50% to SR9.80.
Other top companies include Saudi Automotive Services Co. and Tanmiah Food Co., whose share prices rose 6.14% and 3.43% to SR62.20 and SR132.80, respectively.
Other top winners included National Co. for Glass Industries and Al-Rajhi Co. for Cooperative Insurance.
The worst performer was Bawan Co., whose share price fell 4.25% to SR47.30.
Other notable decliners included Buruj Cooperative Insurance Co. and City Cement Co., with share prices falling 3.87% and 3.68% to SR 20.86 and SR 18.84, respectively.
Saudi Manpower Solutions Co. and Al Sagr Cooperative Insurance Co. they also saw their share prices fall.
Regarding the announcements, Arabian Cement Co. reported a 7.8% decline in sales to SR 402.8 million in the first half of 2024 compared to the same period last year.
In a statement on Tadawul, the company attributed the decline to lower sales volume due to reduced demand, despite an increase in the average selling price for the parent company.
However, net profit rose 7.6% in the first six months of this year to SR83.1 million, compared to SR77.2 million in the same period last year.
The increase was mainly driven by a reduction 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.
Arabian Pipes Co. Revenues in the same period they increased by 22.3%, reaching SR 651.8 million. Its net profit also increased to SR 111.8 million, marking a 96.3% increase from the same period in 2023.
The company attributed the increase in revenue to higher sales volume, with net profit rising due to gross profit rising to SR180.5 million in financial year 2024 from SR99.4 million in the previous 12-month period. This growth is largely the result of improved manufacturing efficiency and supply chain management, as well as ongoing efforts to reduce production costs.
