Saudi Arabia could lead in carbon capture technology: IEF

RIYADH: Saudi Arabia's Tadawul All Share Index rose 5.38 points or 0.04 percent to end Thursday's trading session at 12,728.53.

Total trading turnover in the benchmark index was SR14.36 billion ($3.89 billion), with 126 stocks advancing and 93 retreating.

The kingdom's peer Nomu rose 308.5 points, or 1.16 percent, to close at 26,989.40. While 43 stocks advanced, 25 stocks retreated.

Meanwhile, the MSCI Tadawul index ended up 0.88 points, or 0.05 percent, at 1,606.22.

The best performing stock of the day was Wafra for Industry and Development Co. The company's share price rose 9.97 percent to SR49.10.

Other top performers include Saudi Research and Media Group and Saudi Tadawul Group Holding Co.

Morapaha Marina Financing Co was the worst performer, with its share price down 4.75 percent to SR11.62.

In announcements, Yanbu Cement Co. Announced annual consolidated financial results for the period ended December 31.

According to the Tadawul report, the company's net profit reached SR119.92 million, down 44.33 percent compared to 2022 figures.

The decline was mainly due to a decrease in sales revenue, an increase in finance costs, despite an increase in other income.

Also, Wataniya Insurance Co. announced its annual financial results for the year 2023.

The company's net profit for the period ended December 31 reached SR84.6 million, up from SR27.6 million in the same period last year.

This rise in profits was primarily due to increase in revenue, rise in insurance service results and increase in investment income.

Dalla Healthcare announced its annual financial results for the period ending Dec. 31.

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Tadawul reported that the company's net profit for 2023 was SR360.1 million, reflecting a 31.21 percent rise compared to 2022 figures.

The rise in net profit is mainly linked to improved gross profit, improved performance of associate companies and special provision for Zakat.

Meanwhile, Capital Market Authority Board, Saudi Manpower Solutions Co. approved its application for registration and issued a resolution to issue 120 million shares representing 30 percent of the company's share capital.

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