RIYADH: Saudi Arabia’s main equities index rose for a second straight session on Tuesday, tracking a broader rebound across Gulf markets after recent declines.
The Tadawul All Share Index gained 108.74 points, or 0.97 percent, to close at 11,302.76, supported by gains in industrials and consumer stocks.
Trading turnover reached SR7.97 billion ($2.13 billion), with advancers outnumbering decliners 150 to 91.
Zamil Industrial Investment Co. was the best-performing stock on the main market, surging 9.92 percent to SR36.
Saudi Paper Manufacturing Co. followed with a gain of 8.15 percent to SR58.40, while Aldrees Petroleum and Transport Services Co. climbed 6.82 percent to SR141.
Shares of Americana Restaurants International Co. declined 5 percent to SR1.90, making it one of the worst performers of the day.
The Kingdom’s parallel market Nomu shed 176.81 points to close at 28,473.47, while the MSCI Tadawul Index edged up 0.83 percent to 1,432.48.
On the announcements front, United Electronics Co., also known as Extra, reported a first-quarter net profit of SR103.36 million, up 10.12 percent from the same period last year.
The company’s revenue rose 10.03 percent year-on-year to SR10.03 billion. However, net profit dropped 41.81 percent compared to the fourth quarter of 2024.
Extra’s share price edged up 1 percent to SR90.90.
United International Holding Co. posted a net profit of SR57.79 million in the first quarter, marking a 52.35 percent increase year on year.
Its shares fell 1.61 percent to close at SR158.40.
Arabian Shield Cooperative Insurance Co. announced that Fitch Ratings has affirmed its long-term issuer default rating at A- with a stable outlook. The rating reflects the company’s strong capitalization and overall financial health, positioning it for future growth.
Shares of the insurance firm rose 0.59 percent to SR17.10.
Regional markets
Gulf markets rebounded on Tuesday after two sessions of declines.
Abu Dhabi Securities Exchange rose 0.44 percent to close at 8,989.10, while Dubai Financial Market jumped 1.90 percent, adding 91.32 points to end at 4,890.33.
Qatar Stock Exchange gained 1.34 percent to reach 9,896.65. Boursa Kuwait advanced 3.08 percent to close at 8,302.45.
Source: www.arabnews.com
