RIYADH: Saudi Arabia’s Tadawul All Share Index continued its downward movement for the second consecutive day, as it shed 17.71 points to close at 12,103.20. The total trading turnover of the benchmark index on Wednesday was SR6.30 billion ($1.68 billion), with 128 stocks advancing and 96 declining. On the other hand, Nomu, the parallel market, marginally went up by 0.03 percent to 26,666.16. However, the MSCI Tadawul Index edged down by 0.47 percent to close at 1,512.30. Saudi Industrial Development Co. was the best-performing stock on the main index. The company’s share price surged by 9.95 percent to SR9.61. Other top performers were Wafrah for Industry and Development Co. and Al-Baha Investment and Development Co., whose share prices soared by 9.9 percent and 7.69 percent respectively. The worst-performing stock was Basic Chemical Industries Co., as its share price slipped by 7.57 percent to SR33.60. On the announcements front, Seera Group Holding revealed that its net profit rose to SR61 million in the first quarter of this year, representing a rise of 7.01 percent compared to the same period of the previous year. In a Tadawul statement, the travel firm noted its total revenue for the first quarter stood at SR1.07 billion year on year driven by continued growth in the car rental and travel platform segments and the new acquisitions within Portman Travel Group. Lumi Rental Co. also announced its financial results. The company said that its net profit fell by 11.15 percent to SR44.71 million in the first quarter of this year compared to the same period in 2023. Zamil Industrial Investment Co., which reported its earnings, revealed that it swung to a net profit of SR5.42 million in the first three months of this year, compared to a net loss of 13.81 million in the same period of the preceding year. Zamil attributed the rise in profits to its sales growth, which went up by 25.5 percent, along with higher operating income in the steel and insulation sectors. Meanwhile, Shatirah House Restaurant Co., also known as Burgerizzr, reported a net profit of SR5.3 million in the first quarter of this year, compared to the SR1.4 million net loss it incurred in the same quarter of 2023. In a Tadawul statement, Burgerizzr said that the rise in net profit was driven by higher same-store sales and an increased number of guests.