RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, adding 104.57 points or 0.90 percent to close at 11,771.69.

Total trading turnover of the benchmark index was SR5.09 billion (US$1.35 billion), with 162 of the stocks rising while 61 declined.

The kingdom’s parallel market Nomu lost 293.95 points or 1.14 percent to close at 25,521.34, with 28 stocks gaining while 39 declined.

The MSCI Tadawul Index gained 17.22 points or 1.18 percent and closed at 1,480.07.

Thimar Development Holding Co. led the day’s stock performance, with its share price rising 9.97 percent to SR 40.80.

Other notable winners included Al-Babtain Power and Telecommunication Co. and Fawaz Abdulaziz Alhokair Co.

The worst performer was Baazeem Trading Co., whose share price fell by 9.05 percent to 6.53 SR.

Other notable losers were Wafrah for Industry and Development Co. and Al Moammar Information Systems Co.

In terms of announcements, Fawaz Abdulaziz Alhokair Co., also known as Cenomi Retail, announced its preliminary financial results for the period ended June 30.

According to a statement from Tadawul, the company reported a net loss of SR67.6 million in the first half of the year, compared to a net profit of SR113.8 million in the same period last year.

The decrease was mainly due to lower sales revenues, a slight decrease in selling, general and administrative expenses, higher net finance expenses and a decrease in zakat and income tax expenses despite an increase in other operating income.

Al Gassim Investment Holding Co. reported a net loss of SR3.58 million for the first half of 2024, down from net profit of SR1.39 million in the same period last year.

This turnaround was mainly due to higher zakat provisions, higher general and administrative expenses and an increase in provisions for expected loan losses. In addition, lower financing income also contributed to the loss despite higher other income.

Al-Moammar Information Systems Co. reported a net profit of SR116 million for the period ended June 30, up 20 percent from the same period in 2023. The increase was due to a one-time gain of SR80 million from the disposal of shares in partner company Edarat and the valuation of data center units.

Saudi Awwal Bank announced that its Board of Directors has approved a cash dividend distribution of SR2.05 billion for the first half of fiscal year 2024.

According to a statement on Tadawul, the dividend will be distributed across 2.05 billion shares, with a dividend of 1 SR per share after deduction of Zakat. The dividend is equivalent to 10 percent of the nominal value of the share.