RIYADH: Saudi Arabia’s benchmark Tadawul All Share Index rose 142.29 points, or 1.30 percent, on Tuesday to close at 11,115.37.
The MSCI Tadawul 30 Index gained 23.62 points, or 1.62 percent, to 1,485.62, while the Nomu parallel market index advanced 137.46 points, or 0.6 percent, to 22,887.94.
Trading turnover reached SR7.60 billion ($2.03 billion) on volume of 315.7 million shares, with 203 stocks advancing and 54 declining on the main market.
Among the top gainers, United Cooperative Assurance Co. surged 9.9 percent to SR3.33, while ACWA Power Co. climbed 7.73 percent to SR202.20. Gulf General Cooperative Insurance Co. rose 6.4 percent to SR3.99, Gulf Insurance Group gained 5.78 percent to SR30.40, and Saudi Fisheries Co. advanced 5.63 percent to SR40.90.
On the losing side, Rabigh Refining and Petrochemical Co. fell 5.92 percent to SR14.30. Dar Albalad for Business Solutions Co. declined 5.74 percent to SR12.98, while Al Taiseer Group Talco Industrial Co. dropped 5.28 percent to SR35.16.
Marketing Home Group for Trading Co. lost 4.28 percent to SR46.04, and Arabian Pipes Co. slipped 3.35 percent to SR7.50.
Saudi Exchange approved requests from Merrill Lynch KSA and Al Rajhi Capital to terminate market-making agreements for a number of listed companies, with the changes set to take effect on June 10.
Merrill Lynch KSA received approval to end its market-making activities for four companies listed on the Nomu parallel market: Knowledge Tower Trading Co., MOBI Industry Co., and Sure Global Tech Co., as well as Molan Steel Co.
MOBI Industry Co. shares rose 0.53 percent on Tuesday to close at SR9.50. Sure Global Tech Co. shares fell 0.81 percent to SR36.70. Molan Steel Co. shares were unchanged on Tuesday, closing at SR0.91.
Separately, the exchange approved Al Rajhi Capital’s request to terminate its market-making agreement for Altharwah Albashariyyah Co.
Altharwah Albashariyyah Co. shares were unchanged on Tuesday, closing at SR26.00.
Market makers provide liquidity by continuously offering buy and sell quotes for securities. The termination of these agreements means the firms will no longer perform market-making activities for the affected stocks from June 10 onward.
