RIYADH: Saudi Arabia's Tadawul Composite Index closed at 11,771.69 on Sunday, up 104.57 points or 0.90 per cent.
The total trading volume of the benchmark index was SR5.09 billion (USD 1.35 billion), with 162 stocks advancing and 61 declining.
The Kingdom's parallel market, Nomu, closed at 25,521.34, down 293.95 points or 1.14 percent, as 28 stocks advanced and 39 declined.
The MSCI Tadawul Index rose 17.22 points, or 1.18%, to close at 1,480.07.
Thimar Development Holding Co. led the day's gains, rising 9.97% to SR40.80.
Other major beneficiaries include Al-Babtain Power and Telecommunication Co. and Fawaz Abdulaziz Alhokair Co.
The worst performer was Baazeem Trading Co., which fell 9.05% to 6.53SR.
Other major decliners include Wafrah for Industry and Development Co. and Al Moammar Information Systems Co.
Among the announcements, Fawaz Abdulaziz Alhokair Co. (also known as Cenomi Retail) reported interim financial results for the period ended June 30.
According to a statement from Tadawul, the company recorded a net loss of SR67.6 million in the first half of this year, compared to a net profit of SR113.8 million in the same period last year.
The decrease was mainly due to lower sales, a slight decrease in selling, general and administrative expenses, an increase in net financial expenses, and a decrease in zakat and income tax expenses, although other operating income increased.
Al Gassim Investment Holding Co. reported a net loss of SR3.58 million in the first half of 2024, down from a net profit of SR1.39 million in the same period last year.
This reversal was mainly due to an increase in the Zakat provision, an increase in general and administrative expenses, and an increase in the provision for expected credit losses. It also contributed to the loss despite a decrease in funding income and an increase in other income.
Al-Moammar Information Systems Co. reported a net profit of SR 116 million for the period ended June 30, up 20% from the same period in 2023. The increase was due to a one-time gain of SR 80 million from the disposal of shares in affiliate Edarat and the valuation of its data center business unit.
Saudi Arabian Bank Awal announced that its board of directors has approved a cash dividend of SR2.05 billion in the first half of fiscal year 2024.
According to Tadawul's statement, the dividend will be distributed to 2.05 billion shares, with a dividend of SR1 per share after deducting zakat. The dividend is equivalent to 10% of the par value of the shares.
