Closing Bell: Saudi main index closes in green at 12,388

20/02/2025 10:22 AST

Saudi Arabia's Tadawul All Share Index edged up on Thursday, gaining 70.56 points, or 0.57 percent, to close at 12,388.15.

The total trading turnover of the benchmark index was SR5.95 billion ($1.58 billion), as 95 of the listed stocks advanced, while 137 retreated.

The MSCI Tadawul Index increased by 13.19 points, or 0.86 percent, to close at 1,551.49.

The Kingdom's parallel market Nomu rose, gaining 44.37 points, or 0.14 percent, to close at 31,474.69. This came as 40 of the listed stocks advanced, while 47 retreated.

The best-performing stock was Anaam International Holding Group, with its share price surging by 6.33 percent to SR23.84.

Other top performers included Etihad Etisalat Co., which saw its share price rise by 5.35 percent to SR63, and Tourism Enterprise Co., which saw a 4.65 percent increase to SR0.90.

The biggest decline of the day was seen in Al Sagr Cooperative Insurance Co., with its share price dropping 9.83 percent to SR15.96.

Saudi Steel Pipe Co. saw its share price drop 6.77 percent to close at SR67.50, while Astra Industrial Group fell 4.81 percent to SR182, reflecting broader market pressures.

Following this, Saudi Steel Pipe Co. reported its annual results for 2024, with net profits rising 15.21 percent year-on-year to SR250 million.

In a Tadawul filing, the company said the profit increase was driven by a rise in gross profit to SR399 million in 2024 from SR283 million the previous year, largely due to higher sales volumes.

Astra Industrial Group reported interim financial results for the period ending Dec. 31, with net profits rising 23.99 percent year on year to SR589.34 million.

The company attributed the growth to higher gross profit across all sectors, increased sales value, and a rise in other income.

Meanwhile, shares of Yamama Cement Co. fell 1.89 percent on the main market today, closing at SR36.25.

In a separate announcement, Nayifat Finance Co. posted its annual results for 2024, with net profits surging 47.93 percent to SR131.23 million.

The company credited the profit increase to higher operational earnings, driven by a decline in the net charge for expected credit loss allowance due to improved write-off recoveries.

In today's trading, Nayifat Finance Co.'s shares edged up 0.83 percent on the main market to close at SR14.74.