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RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, losing 5.62 points, or 0.05 percent, to close at 12,409.87.

The total trading turnover of the benchmark index was SR5.09 billion ($1.35 billion), as 108 of the stocks advanced and 118 retreated. 

The Kingdom’s parallel market, Nomu, lost 145.58 points, or 0.47 percent, to close at 31,105.07. This comes as 42 of the listed stocks advanced while 43 retreated. 

The MSCI Tadawul Index, however, gained 1.59 points, or 0.10 percent, to close at 1,54561. 

The best-performing stock of the day was Mutakamela Insurance Co., whose share price rose 9.74 percent to SR18.02. 

Other top performers included Allied Cooperative Insurance Group and Saudi Arabian Cooperative Insurance Co. whose share prices gained 8.55 percent to SR16 and 7.71 percent to SR17.88, respectively.

Thimar Development Holding Co. recorded the most significant drop, falling 7.5 percent to SR53.

Saudi Arabian Amiantit Co. also saw its stock prices fall 5.77 percent to SR29.40.

CHUBB Arabia Cooperative Insurance Co. saw its stock prices decline 4.26 percent to SR54.

Multi Business Group Co. announced its annual financial results for the period ending Dec. 31.

According to a Tadawul statement, the company reported a net profit of SR10.5 million last year, reflecting a 19.06 percent increase compared to 2023. 

The growth was driven by an 8 percent rise in total revenues, a 12 percent increase in gross profit, an 8 percent reduction in general and administrative expenses, and a 45 percent decrease in financing costs, despite a 161 percent surge in zakat expenses.

Multi Business Group Co. ended the session at SR18.80, up 10.43 percent.

Edarat Communication and Information Technology Co. announced its annual consolidated financial results for the period ending Dec. 31.

A bourse filing revealed that the firm recorded a net profit of SR24.6 million in 2024, reflecting a 41.98 percent rise compared to the previous year. 

The jump is primarily linked to a 31 percent rise in gross profit, which reached SR45.3 million in 2024, compared to SR34.6 million in 2023. Moreover, administrative expenses, as a percentage of revenue, dropped from 19.07 percent in 2023 to 16.71 percent in 2024, further leveraging the growth in net profit.

Edarat ended the session at SR671, up 1.55 percent.

The National Shipping Co. of Saudi Arabia announced its interim financial results for the period ending Dec. 31. According to a Tadawul statement, the firm recorded a net profit of SR2.16 billion in 2024, up 34.45 percent compared to 2023. 

The rise is owed to a surge in gross profit by SR627 million and an increase in the firm’s share in results of equity accounted investees by SR166 million. The increase in net profit was partially reduced by a decline in other income and a rise in general and administrative expenses compared to the same period last year.

National Shipping Co. of Saudi Arabia ended the session at SR29.95, down 0.67 percent.

Bank AlJazira has announced its annual financial results for the period ending Dec. 31. A bourse filing revealed that the firm recorded a net profit of SR1.23 billion in 2024, up 20.69 percent compared to 2023.

The bank ended the session at SR18.68, down 3.08 percent.

Saudi Awwal Bank also announced its annual financial results for the same period. According to a Tadawul statement, the firm recorded a net profit of SR8.07 billion in 2024, up 15.25 percent compared to 2023. This rise is due to a surge in total operating income, partially offset by a jump in total operating expenses and tax charges.

The bank ended the session at SR36.40, up 1.95 percent.