The Saudi stock market saw a slight dip as the Tadawul All Share Index decreased by 0.08%, closing at 12,369.63. Trading volume reached SR6.92 billion, with 133 stocks rising and 97 falling.
In the parallel market, Nomu dropped 27 points to 31,317.97, while the MSCI Tadawul Index declined by 0.17% to 1,549.08.
Top Performers and Decliners
Rasan Information Technology Co. led the gains on the main market, surging 9.99% to SR88.10. Saudi Cable Co. and Walaa Cooperative Insurance Co. also saw significant increases, up 9.97% and 6.24%, respectively. However, ACWA Power Co. faced a setback, with shares falling 3.49% to SR420.
Notable Announcements
Al Jouf Cement Co. signed a SR38 million contract with Mohammed Shahi Al-Ruwaili Contracting to export cement and clinker to Syria. The agreement, effective from February 2025 to February 2026, will impact financial results starting the first quarter of 2025. Al Jouf’s share price increased by 1.42% to SR11.46.
Scientific and Medical Equipment House Co., known as Equipment House, secured a SR105.07 million contract for maintaining medical equipment in hospitals under the Riyadh First Health Cluster, including King Salman Hospital and others. This contract will affect financials from the second quarter of this year, with shares edging up 0.19% to SR52.20.
Financial Results
Aldrees Petroleum and Transport Services Co. reported a net profit of SR338 million for 2024, a 20.37% increase due to a 30% rise in revenues from petrol and transport sales. The company announced a recommended cash dividend of SR1.5 per share, with shares rising 4.20% to SR129.