RIYADH: Saudi Arabia’s Tadawul All Share Index continued its upward trend for the third consecutive day, gaining 80.79 points to close at 12,103.82.
The total trading turnover of the benchmark index was SR8.74 billion ($2.33 billion), as 127 of the listed stocks advanced, while 89 retreated.
The Kingdom’s parallel market Nomu also edged up by 198.53 points to close at 25,990.62, while the MSCI Tadawul Index gained 13.88 points to 1,506.07.
Red Sea International Co. was the best-performing stock of the day, with its share price surging 10 percent to SR35.20.
Other top gainers included Zamil Industrial Investment Co. and Buruj Cooperative Insurance Co., whose shares rose by 9.87 percent and 8.99 percent, respectively.
Fawaz Abdulaziz Alhokair Co., also known as Cenomi Retail, was the worst performer, with its share price dipping 5.71 percent to SR10.56.
AYYAN Investment Co. and Ataa Educational Co. also saw declines of 3.65 percent and 2.71 percent, respectively.
In the parallel market, Mayar Holding Co. was the top performer, with its share price increasing by 15.54 percent to SR4.46.
ASG Plastic Factory Co. and United Mining Industries Co. also performed well, with share prices rising by 13.25 percent and 7.69 percent, respectively.
On the announcements front, Al Jouf Cement Co. said that it obtained a Shariah-compliant banking facility worth SR150 million from Al Rajhi Bank.
In a Tadawul statement, the cement manufacturing firm noted that the term of the financing period is eight years, which also includes a one-year grace period.
The company added that the credit facility will be used to repay the firm’s existing liabilities and support its operations.
In another Tadawul statement, Al-Modawat Specialized Medical Co. announced its board’s approval to establish a new 100 percent-owned limited liability company in Egypt for investment in the medical industry. Further proceedings will follow regulatory approvals.
The healthcare firm added that further proceedings in this regard will happen after fulfilling the regulatory requirements and obtaining the approvals of the concerned authorities.
