Closing Bell: Saudi main index closes in red at 11,671

01/05/2025 07:36 AST

Saudi Arabia's Tadawul All Share Index dipped on Wednesday, losing 74.62 points, or 0.64 percent, to close at 11,671.58.

The total trading turnover of the benchmark index was SR6.94 billion ($1.85 billion), as 47 stocks advanced, while 201 retreated.

The MSCI Tadawul Index decreased by 4.89 points, or 0.33 percent, to close at 1,488.88.

The Kingdom's parallel market Nomu dipped, losing 54.20 points, or 0.19 percent, to close at 28,277.17. This came as 24 stocks rose, while 49 fell.

The best-performing stock on the main index was Jamjoom Pharmaceuticals Factory Co., with its share price surging by 9.91 percent to SR173.

In the first quarter of 2025, the company's net profit rose 204.26 percent quarter-on-quarter to SR157.03 million, according to a filing on the stock exchange. The group attributed the increase to higher sales and more efficient absorption of operating expenses, resulting in strong operating leverage.

MBC Group Co. recorded the day's steepest decline, with its share price slipping 4.42 percent to SR41.10.

Advanced Petrochemical Co. announced its interim financial results for the first three months of the year, reporting a net profit of SR72 million - a 224.1 percent increase from the same quarter last year.

Americana Restaurants International PLC also announced its financial results for the same period, with its net profit reaching SR122.4 million in what is an annual increase of 16.5 percent.

Similarly, the company's total comprehensive income saw a surge of 44.5 percent to SR128.13 million. Its share price traded 3.04 percent higher on the main market to reach SR2.32.

Modern Mills for Food Products Co. also announced its interim financial results for the first three months of the year, with net profit amounting to SR65.6 million, a 29.2 percent surge compared to the previous quarter.

The company attributed the increase to higher gross margin, operational efficiencies and lower finance cost.

Modern Mills for Food Products Co.'s share price traded 0.26 percent higher on the main market to reach SR39.

Banque Saudi Fransi has launched the offering of US dollar-denominated additional Tier 1 capital notes as part of its international issuance program, the bank said in a bourse filing.

The offering, conducted under its Additional Tier 1 Capital Note Programme, targets eligible investors in Saudi Arabia and internationally, the statement added.

The subscription period is scheduled to begin on April 30 and end on May 1, with a minimum subscription set at $200,000 and increments of $1,000 thereafter.

The value, pricing, and yield of the perpetual instruments - which are callable after six years - will be determined based on prevailing market conditions.