RIYADH: Saudi Arabia’s Tadawul All Share Index edged up 48.89 points, or0.43 percent, to 11,305.28 on Tuesday, driven by favorable market conditions slightly offset by declining energy prices. While the parallel market Nomu lost just 2.97 points to 21,055.56, the MSCI Tadawul Index inched up 0.36 percent to 1,520.18. The total trading turnover of the benchmark index on Tuesday was SR6.11 billion ($1.63 billion). The Brent crude price was down 60 cents, or 0.78 percent, at $76.41 at 4:10 p.m. Saudi time, while US West Texas Intermediate crude fell 60 cents, or 0.82 percent, to trade at $72.56. Insurance firms led the gainers on Tuesday, and the top performer was United Cooperative Assurance Co, whose share price went up by 10 percent to SR9.90. Other top performers of the day were Saudi Enaya Cooperative Insurance Co. and Al Sagr Cooperative Insurance Co., whose share prices increased by 9.97 percent and 9.96 percent, respectively. Tihama Advertising and Public Relations Co. was the worst performer of the day, dropping its share price by 9.96 percent to SR18.80. On the announcements front, Saudi Arabian Oil Co reported a net profit of SR119.54 billion in the first quarter of 2023, up 3.75 percent from SR115.22 billion recorded in the previous quarter. The rise saw the company’s share price climb 3.23 percent to SR33.60. Meanwhile, Advanced Petrochemical Co. reported a 73.78 percent slump in its net profit to SR43 million in the first quarter of 2023, compared to SR164 million in the same period of the previous year. In a statement to Tadawul, the company attributed the year-on-year profit decline to a 27 percent decrease in sales prices and a 6 percent fall in sales volumes. Mobile Telecommunication Co. Saudi Arabia, also known as Zain KSA, reported a 595.06 percent rise in net profit to SR563 million in the first quarter of this year, from SR80.5 million in the same period a year ago. Meanwhile, the net profit of Leejam Sports Co. also rose 36.3 percent year-on-year in the first quarter to SR62.7 million, compared to SR46 million in the year-ago period. Herfy Food Services Co. turned in a loss of SR12.81 million in the first quarter of 2023, compared to a net profit of SR26.71 million in the same period a year ago.