RIYADH: Saudi Arabia’s Tadawul All-Share Index rebounded on Tuesday, gaining 91.67 points, or 0.88 percent, to close at 10,518.73.
The total trading turnover of the benchmark index was SR4.32 billion ($1.15 billion), with 233 stocks advancing and 20 declining.
Saudi Arabia’s parallel market, Nomu, also rose 0.29 percent, closing at 25,022.58.
The MSCI Tadawul Index edged up 0.81 percent to 1,369.12.
The best-performing stock on the main market was Fawaz Abdulaziz Alhokair Co., also known as Cenomi Retail, with its share price rising 9.97 percent to SR28.68.
Retal Urban Development Co. shares climbed 5.85 percent to SR12.30, while Saudi Ground Services Co. gained 5.60 percent to SR44.10.
Conversely, National Medical Care Co. fell 1.82 percent to SR161.50.
In corporate news, Almarai Co. announced the launch of its dollar-denominated sukuk under its $2 billion Trust Certificate Issuance Program.
According to a Tadawul statement, the offering period began on Sept. 16 and will run through Sept. 17. The minimum subscription is $200,000, in increments of $1,000, while the final value, return, and maturity will be determined by market conditions.
Almarai’s share price rose 2.53 percent to SR45.10.
First Milling Co. said it signed a binding agreement to acquire 60 percent of the share capital of Al-Kenan Al-Arabia Trading Co., a single-person limited liability company registered in Saudi Arabia.
The Tadawul statement noted that the transaction includes the transfer of ownership in accordance with the agreement’s terms and conditions, subject to regulatory approvals and customary conditions required to complete such deals.
First Milling added that the acquisition aligns with its growth strategy, aimed at expanding activities in the feed sector, diversifying revenue sources, and strengthening its market position in the Kingdom and beyond.
The company’s share price rose 0.69 percent to SR51.30.
