Closing Bell: TASI slips for 3rd consecutive day as market turnover hits $2.65bn

Saudi Arabia’s Tadawul All Share Index slipped for the third consecutive day on Tuesday, losing 71.40 points to close at 12,585.54.

The total trading turnover of the benchmark index was SR9.94 billion ($2.65 billion), with 37 of the listed stocks advancing and 191 declining.

On the other hand, Saudi Arabia’s parallel market, Nomu, also shed 578.98 points to close at 26,658.46.

The MSCI Tadawul Index was comparatively steady on Tuesday, shedding a marginal 2.48 points to end the trading session at 1,589.91.

The best-performing stock on the main index was Saudi Cable Co., with the company’s share price surging by 9.93 percent to SR91.90.

Other top performers included Mouwasat Medical Services Co. and Al-Baha Investment and Development Co., whose share prices soared by 8.24 percent and 7.14 percent, respectively.

The worst performer of the day was Alkhaleej Training and Education Co., with its share price dipping by 9.94 percent to SR35.35.

On the announcements front, Arabian Centers Co., also known as Cenomi Centers, revealed that its net profit surged by 48.77 percent in 2023 to SR1.5 billion, compared to the previous year.

The company attributed the rise in profit to an increase in net rental revenue and media sales.

Moreover, the firm’s board of directors also approved a cash dividend of SR0.75 per share for the second half of 2023.

Seera Group Holding also announced its financial results on Tuesday. In a Tadawul statement, the company revealed that it witnessed a net profit of SR265 million in 2023, compared to a net loss of SR46 million in the previous year.

The firm added that the rise in net profit was driven by a 60 percent year-on-year growth of revenues in the travel platform Almosafer, and a 41 percent growth in income from the car rental company Lumi.

Meanwhile, Horizon Food Co. reported a net profit of SR9.24 million in 2023, representing a rise of 4.07 percent compared to the previous year.

Canadian Medical Center Co. also announced its financial results on Tuesday, revealing a marginal rise of 0.37 percent in its net profit to SR15.7 million in 2023 compared to the previous year.

Additionally, the healthcare provider’s board of directors declared a 9 percent cash dividend for the second half of 2023, at SR0.09 per share, according to a Tadawul statement.