Saudi Arabia: Saudi Arabia’s Tadawul All Share Index slipped on Tuesday, as it shed 90.64 points or 0.76 percent to close at 11,792.40. 

The total trading turnover of the benchmark index was SR5.94 billion ($1.58 billion), with 52 stocks advancing and 192 declining. 

The Kingdom’s parallel market, Nomu, also shed 315.76 points to close at 30,718.93. 

The MSCI Tadawul Index declined by 0.73 percent to 1,492.90. 

The best-performing stock on the main market was Aldawaa Medical Services Co. The firm’s share surged by 9.55 percent to SR78. 

The share price of Saudia Dairy and Foodstuff Co. also increased by 3.70 percent to SR313.60. 

Walaa Cooperative Insurance Co. also saw its stock price edging up by 3.62 percent to SR19.48. 

Conversely, the share price of Fawaz Abdulaziz Alhokair Co., also known as Cenomi Retail declined by 7.21 percent to SR11.84. 

On the announcements front, Derayah Financial Co., which debuted on Saudi Arabia’s main market on March 10, said that its net profit for 2024 reached SR443.9 million, representing a rise of 34.64 percent compared to 2023. 

The company attributed the rise in profit to significant growth across the company’s various business segments which include brokerage, asset and wealth management, as well as special commission income.

The share price of Derayah Financial Co. declined by 3.25 percent to SR38.70. 

Canadian Medical Center Co. announced that its net profit for 2024 stood at SR10.26 million, down by 34.63 percent from 2023. 

In a Tadawul statement, the firm said that the decline in net profit was due to higher operating and investment costs. 

Canadian Medical Center Co.’s board of directors also approved the payment of a cash dividend at 5 percent or SR0.05 per share for 2024. 

The company’s share price dropped by 0.58 percent to SR6.86. 

Elm Co. announced that its shareholders approved the firm’s acquisition of the shares held by the Public Investment Fund in Thiqah Business Services Co. for SR3.4 billion. 

The approval follows a share purchase agreement signed by Elm Co. and PIF in January to acquire the sovereign wealth fund’s entire stake in Thiqah, amounting to 45,000 shares. 

Elm Co. Saw its share price decline by 1.42 percent to SR971. 

Saudi Arabia’s Capital Market Authority approved the request of Marketing Home Group Co. to float 4.8 million shares in the Kingdom’s main market for an initial public offering. 

The offer shares amount to 30 percent of Marketing Home Group Co.’s share capital. 

The CMA also approved the application of Qudra Communications & Information Technology Co. to float 5 million shares, or 18.8 percent of the firm’s capital, on Nomu. 

Hawyia Auctions Co. also received approval from CMA to float 2.4 million shares, or 12 percent of the company’s capital, on Nomu.