Closing Bell: Saudi benchmark index edges down 0.31% to close at 11,398

08/05/2025 01:01 AST

Saudi Arabia's Tadawul All Share Index fell on Wednesday, shedding 35.34 points, or 0.31 percent, to close at 11,398.74.

The total trading turnover of the benchmark index stood at SR4.813 billion ($1.28 billion), with 74 stocks advancing and 168 declining.

The Kingdom's parallel market, Nomu, also closed lower, dropping 175.08 points, or 0.63 percent, to end at 27,777.71, as 24 stocks advanced and 50 retreated.

Meanwhile, the MSCI Tadawul Index dipped by 1.94 points, or 0.13 percent, to finish at 1,455.78.

The best-performing stock of the day was Nahdi Medical Co., with its share price jumping 7.26 percent to reach SR121.20.

The company announced its interim financial results for the first three months of the year, posting a net profit of SR255.2 million - a 61.6 percent increase compared to the previous quarter.

The surge was attributed to higher gross profit driven by increased sales, lower operating expenses due to favorable phasing, and a one-off zakat provision release.

On the other end, Leejam Sports Co. recorded the steepest drop, with its share price plunging 10 percent to close at SR124.20.

On the announcements front, Mobile Telecommunication Co. Saudi Arabia, also known as Zain KSA, posted a net profit of SR93 million for the first quarter of the year, marking a 38.8 percent increase year on year.

The company attributed the rise in net profit to a SR40 million increase in gross profit driven by revenue growth, as well as a 5.2 percent rise in earnings before interest, taxes, depreciation, and amortization, also by SR40 million.

Zain's share price fell 8.29 percent during the session to close at SR11.88.

Saudia Dairy and Foodstuff Co. reported a quarter-on-quarter net profit increase of 36.9 percent, reaching SR126.1 million. The company credited the growth to an improved gross margin of 35.9 percent. Its share price slipped 0.67 percent to close at SR301.20.

Savola Group posted a net profit of SR189.16 million for the first three months of the year, reflecting a 45.7 percent decline compared to the same quarter last year.

The company said the drop was primarily due to the absence of share of profit from its divested stake in Almarai, which had contributed SR236.7 million in the previous year.

However, the decline was partially offset by reduced financial charges following debt settlements completed in 2024 totaling SR89.6 million.

Savola's share price fell 7.11 percent during the session to close at SR30.00.

Arabian Pipes Co. emerged as one of the day's bright spots, posting a 222.3 percent quarter-on-quarter jump in net profit, reaching SR40.1 million.

This performance was largely driven by a 63.46 percent increase in gross profit, which rose to SR63.66 million in the first quarter of 2025 from SR38.94 million in the previous quarter.

The company cited higher sales volumes, an improved product mix, and revised supply schedules as the key growth drivers. Its share price rose 0.55 percent to close at SR9.17.

Arabian Pipes Co. was bullish reporting a 222.3 percent quarter-on-quarter surge in net profit , reaching SR40.1 million.

The increase was primarily driven by higher gross profit, which rose to SR63.66 million in the first quarter of 2025 from SR38.94 million in the previous quarter, marking a 63.46 percent jump.

The growth was attributed to a rise in sales volume, an improved sales mix, and adjustments in supply schedules.

Arabian Pipes Co. share price traded 0.55 percent higher on the main market to reach SR9.17.

Arab News