RIYADH: Saudi Arabia's Tadawul All-Share Index fell on Monday, shedding 0.61 points to close at 12,372.50.
Total trading volume in the benchmark index was 7.36 billion riyals ($1.96 billion), with 116 stocks gaining and 110 stocks losing.
Similarly, the MSCI Tadawul index also fell by 2.63 points (0.17%) to close at 1,549.13.
On the other hand, Nomu-san in the parallel market rose 0.85 points to close at 26,791 yen. This was due to 20 stocks rising and 39 stocks falling.
The best performing stock was cooperative insurance company Bupa Arabia, whose share price rose 10% to SR275.
Other top performers included Mediterranean and Gulf Insurance and Reinsurance Company and Co-operative Insurance Al Rajhi Company, whose shares rose 9.97 per cent and 9.93 per cent to R33.10 and R148.40 respectively. .
The worst performer was Arabian Internet and Communications Services, whose share price fell by 4.46% to R334.4.
Saudi Cable Company and Gulf Insurance Group performed poorly, with their shares falling 3.55 percent and 3.01 percent to 76 riyals and 33.85 riyals, respectively.
On the announcement front, Bupa Arabia for Cooperative Insurance Co's profits surged to SR359 million in the first quarter of 2024, up 91% from SR189 million in the same period last year.
Net investment income in the first quarter amounted to SR158 million, compared to SR102 million in the same period last year, an increase of 54%, Al-Ekbariya said.
Insurance income for the quarter amounted to SR 4.37 million, representing a significant increase of 16.63 percent compared to SR 3.75 million in the same period last year.
The channel reports that this growth is primarily due to business expansion and an increase in the number of people insured.
Cooperative insurance company Al Rajhi Company also announced its interim results for the year ended March 31, with sales increasing to SR1.4 million from SR865,298 in the same period last year.
A statement from Tadawul said this was an increase of 50.6% and was due to an increase in overall business volumes.
Similarly, net profit after zakat attributable to shareholders for the quarter amounted to SR 111,376, an increase of 81.7% compared to SR 61,282 in the same period last year.
The company said the improvement was due to an increase in net profit from insurance services, which rose from 97,616 riyals a year ago to 113,229 riyals, a 16% jump due to business growth.
