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RIYADH: Saudi Arabia’s Tadawul All Share Index slipped 12.10 factors, or 0.11 p.c, to complete at 11,293.18 on Wednesday, as fluctuating oil costs affected traders’ confidence.
Whereas the parallel market Nomu edged up 96.35 factors to 21,151.91, the MSCI Tadawul Index dropped barely by 0.03 p.c to 1,519.71.
The overall buying and selling turnover of the benchmark index on Wednesday was SR5.70 billion ($1.52 billion).
Brent crude worth fell 16 cents to $77.28 at 4:00 p.m. Saudi time, at the same time as US West Texas Intermediate crude declined 13 cents to $73.58.
Al Sagr Cooperative Insurance coverage Co. was the highest gainer of the day, as its share worth soared by 9.93 p.c to SR17.72.
Different high performers have been Naqi Water Co. and Nationwide Industrialization Co., whose share costs edged up by 3.61 p.c and three.43 p.c, respectively.
The worst performer on Wednesday was Ash-Sharqiyah Growth Co., with the corporate’s share worth dropping 8.14 p.c to SR24.16.
On the bulletins entrance, ACWA Energy reported its internet revenue climbed by 77.63 p.c within the first quarter of 2023 to SR269.73 million, in comparison with SR151.85 million in the identical interval a 12 months in the past.
In an announcement to Tadawul, the utility main attributed the rise in revenue to increased working income, primarily pushed by elevated contributions from present initiatives, together with vegetation that skilled outages in the identical quarter of final 12 months.
Regardless of reporting an increase in internet revenue, the corporate’s share costs closed flat at SR168.80.
Saudi Telecom Co. additionally disclosed its monetary report for the primary quarter of 2023. The corporate reported a internet revenue rise of two.44 p.c to SR3.10 billion within the first three months of 2023, from SR3.03 billion within the year-ago interval.
Telecom service supplier stc, in an announcement to Tadawul, additionally famous that it could distribute a 4 p.c money dividend, or SR0.40 per share, for the primary quarter of 2023.
In the meantime, Electrical Industries Co. introduced that its internet revenue for the primary quarter of 2023 rose to SR35.1 million from SR2.2 million within the year-ago interval.
Nahdi Medical Co. reported that its internet revenue within the first quarter of 2023 went up by 2.86 p.c to SR244.3 million, in comparison with SR237.5 million in the identical quarter of the earlier 12 months.
Saudi Industrial Funding Group additionally introduced its monetary report. It acknowledged that it confronted a internet lack of SR242 million within the first quarter of this 12 months in opposition to a revenue of SR235 million a 12 months earlier.
Saudi Electrical energy Co. revealed that its internet revenue declined by 68.36 p.c to SR480 million within the first quarter of 2023, in comparison with SR1.51 billion in the identical interval a 12 months earlier. The corporate’s internet revenue decline additionally impacted the share worth, because it went down by 6.06 p.c to SR22.94.
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