RIYADH: Saudi Arabia's Tadawul All Share Index declined on Tuesday, losing 69.22 points or 0.57 percent to close at 12,105.54.
Total trading turnover of the benchmark index was SR6.8 billion (US$1.8 billion), with 55 of the listed stocks rising while 173 declined.
The MSCI Tadawul Index also lost 10.49 points or 0.69 percent and closed at 1,512.94.
The kingdom's parallel market Nomu gained 123.53 points, or 0.47 percent, to close at 26,164. Thirty-three of the listed stocks rose, while 32 fell.
Sumou Real Estate Co. was TASI's best performing stock as the company's share price rose 9.98 percent to SR47.95.
Other top performers included Kingdom Holding Co. and Perfect Presentation for Commercial Services Co., whose shares rose 9.93 percent and 4.04 percent to close at SR7.86 and SR15.96, respectively.
Other top gainers included Nayifat Finance Co. and Gulf Union Alahlia Cooperative Insurance Co.
The worst performer was Miahona Co., whose share price fell by 6.82 percent to SR 39.60.
Share prices of Nama Chemicals Co. and Jadwa REIT Saudi Fund fell 3.39 percent and 3.22 percent to SR 27.10 and SR 12.02, respectively.
Other poor performers included Rasan Information Technology Co. and National Medical Care Co.
In terms of announcements, First Mills Co. reported net profit of SR45.5 million in the second quarter of the year, up 30.3 percent from the same period in 2023.
Sales also increased by 13 percent year-on-year in the second quarter of this year, reaching SR 242.3 million.
The company announced that it will pay a cash dividend of SR 1.55 per share to shareholders for the first half of 2024.
The total dividend distribution amounts to SR 86.03 million, divided into 55 million shares.
Saudi telecommunications group Etihad Etisalat Co., also known as Mobily, reported a 33 percent increase in profit, reaching SR 661 million in the second quarter of 2024, compared to SR 497 million in the same period last year.
The company attributed the increase in net profit to higher operating profits and a 26.2 percent reduction in financing costs, which fell to SR 130 million due to a reduced debt portfolio.
Lower spending on zakat and income tax also contributed to the improved financial situation, it said.
Saudi Telecom Co. also reported a 9 percent increase in profit, reaching SR3.3 billion in the second quarter, compared to SR3.0 billion in the same period last year.
The Company attributed the increase in net profit to an increase in revenue of SR 828 million, partially offset by an increase in cost of sales of SR 272 million, resulting in an increase in gross profit of SR 556 million.
Operating expenses fell by SR 48 million and zakat and income tax expenses fell by SR 23 million, it said.
