RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Wednesday, gaining 26.37 points, or 0.25 percent, to close at 10,726.16.
The total trading turnover of the benchmark index was SR3.43 billion ($914.9 million), as 177 of the listed stocks advanced, while 72 retreated.
The MSCI Tadawul Index increased, up 4.02 points, or 0.29 percent, to close at 1,408.09.
The Kingdom’s parallel market Nomu lost 22.50 points, or 0.09 percent, to close at 23,896.90. This comes as 35 of the listed stocks advanced, while 40 retreated.
The best-performing stock was Shatirah House Restaurant Co., with its share price surging by 5.66 percent to SR15.30.
Other top performers included Flynas Co., which saw its share price rise by 5.43 percent to SR68, and Kingdom Holding Co., which saw a 4.88 percent increase to SR8.17.
On the downside, Yanbu Cement Co. was the day’s weakest performer, with its share price slipping 4.84 percent to SR15.34.
Al Masar Al Shamil Education Co. also fell 4.27 percent to SR21.73, while Electrical Industries Co. declined 3.93 percent to SR11.72.
On the announcements front, Middle East Specialized Cables Co. said its subsidiary, MESC L.L.C., has finalized a Shariah-compliant banking facilities agreement with Mashreq Bank in the UAE to support its operational and capital expenditure plans.
The financing, amounting to 91 million dirhams ($24.7 million), was formally obtained on Dec. 8, according to a Tadawul statement.
The facility, which runs until March 31, 2026, is designated to meet working capital requirements, finance raw material procurement, and support the issuance of letters of credit and bank guarantees.
As collateral, the agreement includes promissory notes valued at the full loan amount, an assignment of insurance proceeds, and a mortgage on certain factory assets and machinery for up to 20 million dirhams.
Middle East Specialized Cables Co.’s shares traded 0.87 percent higher on the main market to reach SR23.20.
