RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Thursday, dropping 102.5 points, or 0.89 percent, to close at 11,375.78. The total trading turnover of the benchmark index was SR5.74 billion ($1.53 billion) as 81 of the 228 listed stocks advanced, while 129 retreated. The Kingdom’s parallel market Nomu rose 73.18 points, or 0.30 percent, to close at 24,634.86 while MSCI Tadawul Index shed 16.75 points, or 1.12 percent, to close at 1,484.24. The best-performing stock of the day was Saudi Steel Pipe Co. The company’s share price surged 9.88 percent to SR28.35. Other top performers included Americana Restaurants International as well as Arabian Drilling Co., whose share prices soared by 7.36 and 3.92 percent, respectively. The worst performer was Al-Baha Investment and Development Co., whose share price fell 5.56 percent to SR0.17. In Nomu, Mayar Holding Co. was the top gainer as its share price rose 8.42 percent to SR103. Another best performer in Nomu was Future Care Trading Co. The company’s share price soared 7.20 percent to SR25. National Building and Marketing Co. was the major loser on Nomu, as the company’s share price fell 8.54 percent to SR321. The share price of National Environmental Recycling Co., also known as Tadweeer, dropped 7.92 percent to SR8.51. On the announcements front, Saudi Steel Pipe Co. declared its financial results for the first half of 2023. According to a bourse filing, the company’s net profit increased 257.4 percent to reach SR93.8 million, up from SR26.2 million recorded in the corresponding period a year earlier. Jarir Marketing Co. also disclosed its financial results for the first half of 2023. The firm’s net profit reached SR403.5 million, reflecting a 5.83 percent decrease compared to SR428.5 million recorded in the first six months of last year. Furthermore, Atlas Elevators General Trading and Contracting Co. announced details of its initial public offering. The firm is offering 1.2 million shares on Nomu, which represents 20 percent of the company’s shares. Saudi Basic Industries Corp. also disclosed its financial results for the first half of 2023 as its net profit dropped 87.2 percent to SR1.84 billion. The fall was also on a quarter basis, as SABIC’s net profits dropped by 85.1 percent in the second quarter of 2023 to SR1.18 billion, down from SR7.93 billion in the same quarter last year. The company stated in a disclosure on Tadawul that the global economy contributed to a slowdown as a result of tightening monetary policies worldwide to curb inflation, which also led to a decrease in the average selling prices of its products and decline in the quantities sold. Additionally, SABIC announced a decrease in its revenues by 33.6 percent, amounting to SR37.2 billion.