RIYADH: Saudi Arabia’s Tadawul All Share Index fell 17.34 points or 0.16 percent on Wednesday after a two-day rally to close at 10,714.06. While the MSCI Tadawul 30 Index dropped 6.77 points to 1,373.68, the parallel market Nomu rose 2.8 percent to 23,415.59. TASI reported a trading volume of SR5.87 billion ($1.56 billion), with 59 stocks gaining and 156 losing steam. Alandalus Property Co. was the best-performing stock of the day, with the share price surging 9.96 percent to SR23.18. Hail Cement Co. came in a close second as its share price soared 9.88 percent to SR12.68. Other top gainers were Al-Baha Investment and Development Co. and Seera Group Holding, whose share prices increased by 7.17 percent and 5.17 percent to SR0.15 and SR23.6, respectively. The worst performer was Sahara International Petrochemical Co., or SPICHEM, whose share price slumped 6.74 percent to SR33.20. Filing and Packing Materials Manufacturing Co. also posted a dismal performance, with its share price declining 5.11 percent to SR47.35. Other poor performers included Al Kathiri Holding Co. and Al Abdullatif Industrial Investment Co., whose share prices plunged 4.87 percent and 4.37 percent, respectively. Future Care Trading Co. was the topmost gainer on Nomu, with its share price shooting up 22.47 percent to SR23.98. Raoom Trading Co., on the other hand, was the worst performer, as the company’s share price slipped by 6.72 percent to SR111. On the announcement front, SIPCHEM disclosed its financial results for the first nine months of 2023. The company’s net profit decreased 69.9 percent to SR233.1 million, down from SR774.4 million in the same period last year. The company said in a bourse filing that the decrease was due to a decline in selling prices for the company’s products despite the fall in raw materials prices. The company’s sales volumes also fell due to the periodic turnaround maintenance activities of International Methanol Co. and International Diol Co. In addition, the company’s share of profits from investments in a joint venture and associates decreased. The petrochemical producer also posted a 70 percent drop in net profit to SR233.1 million in the third quarter from SR774.41 million in the corresponding period of the last year.