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  • 31-10-22

    Saudi bourse closes Sunday’s session with decreases for 4th consecutive day

    (MENAFN) Saudi Arabia’s benchmark index decreased for the fourth day in a row, declined lower by slow gains declarations and a 23 percent fall in income by Tadawul Group, the possessor of the nation’s bourse.

    The Tadawul All Share Index dropped 0.66 percent to close at 11,632, whereas the similar market, Nomu, fell 1.22 percent to close at 19,606.

    Saudi Tadawul Group Holding Co. dropped 2.24 percent, following a decrease in its revenue to SR367 million (USD98 million) for the January-September period of this year.

    This was joined with a 7 percent decrease in profit to SR849 million (USD238 million), mostly because of the fall in exchanging facilities as well as post-exchange facilities.

    Increased salaries and employee-associated benefits additionally weighed on revenue throughout the stated period, topping to a 14.7 percent on yearly basis surge in operating expenses to SR465 million (USD123.7 million).

    Last week, Tadawul Group saw the 39th registering since the start of 2022, with 18 listing demands accepted by the Capital Market Authority during this year, as said by chief executive Mohammed al-Rumaih.

    MENAFN31102022000045014228ID1105103374

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