RIYADH: Saudi Arabia’s Tadawul All Share Index surged 137.88 points — or 1.24 percent — to end at 11,258.22 on Sunday, as 173 of the 224 stocks closed in the green. While the parallel market Nomu advanced 198.80 points to 21,094.37, the MSCI Tadawul Index also inched up 18.53 points to finish at 1,516.45. The total trading turnover value for the benchmark index touched SR4.95 billion ($1.32 billion). Salama Cooperative Insurance Co. was the top performer of the day, as its share price closed 9.98 percent higher at SR19.18. Other top performers were Saudi Chemical Co., Saudi British Bank and Middle East Paper Co., whose share prices grew by 6.49 percent, 6.04 percent and 5.69 percent, respectively. The worst performer was Bank Aljazira, whose share price dropped by 4.21 percent to SR18.20. On the announcements front, Saudi British Bank reported a net profit of SR1.76 billion in the first quarter of 2023, up 76 percent from SR1 billion in the year-ago period, spurred by higher total operating income. Riyadh Cables Group Co. also reported a 48 percent increase in net profit to reach SR125 million in the first quarter of 2023 from SR84.5 million in the year-ago period. The cable manufacturer’s revenues jumped 24.1 percent to SR1.94 billion from SR1.56 billion during the period under review. In a statement to Tadawul, the company announced its intention to repurchase and allocate 500,000 shares to the employee’s long-term stock incentive plan. Arabian Pipes Co., on the other hand, turned to a net profit of SR13.3 million in the first quarter of 2023 against a net loss of SR13.2 million incurred during the same period a year earlier. The pipe manufacturer’s revenues skyrocketed to SR230 million in the first quarter of 2023 as opposed to SR61.70 million clocked in the first quarter of 2022. The company’s share price closed marginally higher at SR54.10. Saudi Public Transport Co., on the other hand, widened its net losses to SR44 million in the first quarter of 2023, compared to SR3.5 million in the same quarter last year. The company’s revenues increased 2.8 percent to SR307.67 million between January and March this year from SR299.31 million during the same period in 2022. Its share price declined slightly to SR17.92. In a statement to Tadawul, National Industrialization Co., reported a 73 percent fall in net profit to SR82.1 million in the first quarter of 2023 from SR309 million in the first quarter of 2022. The company’s revenue slumped 9.2 percent to SR888.7 million from SR 979.22 during the period under review. Its share price increased 3.63 percent to SR13.