Friday, September 1, 2023

TASI drops despite healthcare sector rally at closing bell


The Tadawul All Share Index in Saudi Arabia closed at 11,206.02 on Tuesday, a decrease of 0.22%. Of the 224 stocks, 111 rose and 95 declined. The Pharma, Biotech, & Life Science index saw the highest increase, climbing 9.28%, while the Energy and Telecommunication sectors fell by 1.96% and 1%, respectively. The total trading turnover of the benchmark index was SR6.9 billion ($1.84 billion). Astra Industrial Group was the top performer, climbing 9.9% to close at SR74.40. The worst performer was National Medical Care Co., which tumbled 3.11% to SR103. In terms of announcements, Astra Industrial Group ended the first quarter of 2023 with a net profit of SR122.8 million, up 64.53% from the previous year. Meanwhile, Saudi Pharmaceutical Industries and Medical Appliances Corp. announced a net profit of SR56.8 million for the first quarter of 2023, an 85.02% jump from the prior year.

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