In Monday’s trading session, Saudi Arabia’s Tadawul All Share Index closed at 12,772.46 points, marking a slight uptick of 0.08 percent, while the Nomu parallel market ended lower at 27,204.67 points, down by 0.28 percent. Conversely, the MSCI Tawadul Index experienced a modest increase of 0.10 percent, reaching 1,606.96 points. TASI reported a trading volume of SR11 billion ($2.94 billion), with 115 stocks gaining and 113 declining, contrasting with Nomu’s lower trading volume of SR26 million.
In financial news, the Saudi Industrial Investment Group Co. revealed a significant decline of 59.5 percent in net profits for 2023 compared to the previous year. This drop was attributed to decreased profits from joint ventures, impacted by falling selling prices and an unplanned shutdown at the Saudi Polymer Co. project. Meanwhile, United Mining Industries Co. saw a marginal revenue decrease but reported a notable increase in net profit, mainly due to a change in the sales mix. Similarly, Nahdi Medical Co. reported a slight rise in net profit, supported by strategic investments and efficient cost management. Arabian Drilling announced positive financial results, with revenue and net profit both experiencing growth in 2023.