RIYADH: Saudi Arabia’s Tadawul All Share Index continued its upward movement for the third consecutive day, as it gained 14.35 points or 0.12 percent to close at 11,696.58.
The total trading turnover of the benchmark index was SR6.13 billion ($1.63 billion), with 108 of the listed stocks advancing, and 140 declining.
The Kingdom’s parallel market Nomu edged down by 0.15 percent to close at 25,597.58.
The MSCI Tadawul Index gained 3.73 points to 1,523.37.
The best-performing stock on the main market was Tihama Advertising and Public Relations Co., as its share price climbed by 10 percent to SR16.61.
Thimar Development Holding Co. was another top performer of the day. The company’s share price increased by 4.65 percent to SR43.62.
AlSaif Stores for Development and Investment Co. also saw its stock price advance by 4.48 percent to SR7.
Conversely, the stock price of National Shipping Co. of Saudi Arabia declined by 3.81 percent to SR30.84.
On the announcements front, Specialized Medical Co. said that it signed a Shariah-compliant credit facility agreement with Saudi Awwal Bank valued at SR1.1 billion.
In a Tadawul statement, the company said that the agreement includes a long-term facility amounting to SR800 million with a tenure of 144 months, and a short-term facility of SR300 million for eight months.
Specialized Medical Co. added that the long-term facility will be used to finance the construction of a new hospital project in Riyadh, Prince Faisal Bin Bandar Road – Khuzam Suburb.
The short-term loan will be used for any working capital requirements of the company.
The share price of Specialized Medical Co. declined by 0.77 percent to SR19.30.
Atlas Elevators General Trading and Contracting Co. said that it signed a contract valued at SR2.49 billion with Rawaf Bin Salman Al Rawaf Co. to supply and install 34 elevators for the Dar Taiba project in Madinah.
According to a Tadawul statement, the supply period is four months from the date of the contract, which falls on Oct. 15, and the installation period is three months from the date of receipt of the elevator shafts.
The statement added that the deal is expected to have a positive impact on the company’s financials over the term of the contract.
The share price of Atlas Elevators dropped by 1.81 percent to SR15.71.
