RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Tuesday, losing 266.84 points, or 2.18 percent, to close at 11,985.97. The benchmark index posted a trading value of SR9.44 billion ($2.52 billion) with 11 of the listed stocks advancing and 218 declining. On the other hand, the Kingdom’s parallel market Nomu edged up by 0.36 percent to close at 24,776.18. The MSCI Tadawul Index slipped by 2.18 percent to close at 1,561.48. The best-performing stock on the main index was Middle East Healthcare Co. The company’s share price surged by 4.72 percent to SR102. Other top gainers were Baazeem Trading Co. and Almunajem Foods Co., whose share prices edged up by 2.64 percent and 1.29 percent, respectively. The worst performer of the day was East Pipes Integrated Co. for Industry as its share price dipped by 10 percent to SR85.50. The positive performance of the parallel market was driven by Ladun Investment Co. The firm’s share price soared by 10.19 percent to SR7.14. On the announcements front, Bupa Arabia for Cooperative Insurance Co. revealed that its net profit rose by 17 percent in 2023 to SR940.16 million, compared to the same period in 2022. In a Tadawul statement, the company said that the rise in net profit was driven by a 33.91 percent year-on-year rise in revenue generated from insurance services to SR893.28 million. Jarir Marketing Co. also announced its financial results for 2023. The company reported a net profit of SR973 million last year, up 0.33 percent compared to 2022. Meanwhile, Kinan International Real Estate Development Co. issued its prospectus to float 3.6 million shares, or 3 percent of capital in the Kingdom’s parallel market. On Dec. 20, 2023, Saudi Arabia’s Capital Market Authority had approved Kinan International’s offering.