RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Wednesday, gaining 76.65 points, or 0.72 percent, to close at 10,775.46.
The total trading turnover of the benchmark index was SR3.77 billion ($1 billion), as 160 of the listed stocks advanced, while 93 retreated.
The MSCI Tadawul Index also increased, up 15.63 points or 1.09 percent to close at 1,448.06.
The Kingdom’s parallel market Nomu lost 157.25 points or 0.71 percent to close at 22,030.43. This comes as 20 of the listed stocks advanced, while 26 retreated.
Top performers
The best-performing stock was Raoom Trading Co. with its share price surging by 9.72 percent to SR79.
Other top performers included Kingdom Holding Co., which saw its share price rise by 7.28 percent to SR12.08, and National Medical Care Co., which saw a 5.42 percent increase to SR109.
Biggest fallers
On the downside, the worst performer of the day was East Pipes Integrated Co. for Industry, whose share price fell by 9.96 percent to SR198.90.
Saudi Fisheries Co. and Mutakamela Insurance Co. also saw declines, with their shares dropping by 5.93 percent and 3.63 percent to SR63.50 and SR13.01, respectively.
Saudi Cable Co. announces Shariah-compliant credit facility agreement
Saudi Cable Co. announced the signing of a Shariah-compliant credit facility agreement with the Saudi Investment Bank, valued at SR20 million.
According to a Tadawul statement, the Murabaha-structured facility, obtained on July 21, is intended to finance and support the company’s strategic operational plans, and is set to expire on May 31, 2027, subject to renewal by written agreement between both parties.
The facility is secured by bonds submitted by Turki bin Ibrahim bin Mansour Al-Rajhi and Faris bin Mansour bin Mohammed Al-Rajhi, as well as an assignment to the bank of future dividend proceeds owed to Saudi Cable Co. by Medal Cable Co., to be used as collateral in the event of non-payment.
Both guarantors are considered related parties, with Turki bin Ibrahim bin Mansour Al-Rajhi serving as a non-executive board member and Faris bin Mansour bin Mohammed Al-Rajhi as an executive board member of the company.
Shares of Saudi Cable were down 2.33 percent to SR155.20 at closing.
