RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Wednesday, gaining 26.39 points, or 0.23 percent, to close at 11,529.36.
The total trading turnover of the benchmark index was SR5.99 billion ($1.59 billion), as 116 of the listed stocks advanced, while only 131 retreated.
The MSCI Tadawul Index also increased, up 6.46 points or 0.43 percent, to close at 1,506.44.
The Kingdom’s parallel market Nomu gained 116.96 points, or 0.46 percent, to close at 25,589.40. This comes as 48 of the listed stocks advanced, while 34 retreated.
The best-performing stock was Saudi Kayan Petrochemical Co., with its share price surging by 6.37 percent to SR6.01.
Other top performers included Nahdi Medical Co., which saw its share price rise by 4.45 percent to SR124.30, and Gulf Union Alahlia Cooperative Insurance Co., which saw a 3.94 percent increase to SR13.97.
CHUBB Arabia Cooperative Insurance Co. rose 3.82 percent to SR41.32, while Middle East Paper Co. gained 3.19 percent to SR28.50.
On the downside, Fawaz Abdulaziz Alhokair Co. slipped 3.24 percent to SR27.48, making it the session’s weakest performer.
Derayah Financial Co. fell 3.09 percent to SR30.72, while Alujain Corp. dropped 2.46 percent to SR34.94.
Amlak International Finance Co. fell 2.44 percent to SR12.39, while Makkah Construction and Development Co. dropped 2.41 percent to SR87.05.
On the announcements front, Sustainable Infrastructure Holding Co. has signed an agreement to acquire a 51 percent majority stake in Port Services & Storage Co. for up to SR132 million.
According to a press release, the deal, which includes an initial payment and future performance-based earn-outs, is slated for completion in the final quarter of 2025, pending regulatory approval.
This strategic acquisition aims to strengthen SISCO’s integrated logistics platform, expand its footprint in the Eastern Province, and create synergies with its existing logistics real estate assets.
SISCO Holding’s shares traded 0.18 percent higher on the main market to close at SR33.06.
