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Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Wednesday, gaining 165.79 points, or 1.53 percent, to close at 11,022.89.
The total trading turnover of the benchmark index was SR6.96 billion ($1.85 billion) as 182 of the listed stocks advanced, while 40 retreated.
Similarly, the Kingdom’s parallel market Nomu jumped 332.52 points, or 1.46 percent, to close at 23,129.38. This comes as 32 of the listed stocks advanced while as much as 24 retreated.
The MSCI Tadawul Index climbed 30.56 points, or 2.17 percent, to close at 1,436.63.
The best-performing stock of the day was Arab Sea Information Systems Co. The company’s share price surged 9.89 percent to SR5.89.
Other leading performers include Saudi Pharmaceutical Industries and Medical Appliances Corp. as well as Almunajem Foods Co., whose share prices soared by 6.03 percent and 5.92 percent to stand at SR30.75 and SR68, respectively.
Al Kathiri Holding Co. and Abdullah Saad Mohammed Abo Moati for Bookstores Co. also saw prices rises.
The biggest faller of the day was Etihad Atheeb Telecommunication Co., whose share price dropped by 9.94 percent to SR152.20.
Others to see falls were Arabian Pipes Co. and Arabian Drilling Co., whose share prices dropped by 3.31 percent and 2.88 percent to stand at SR111 and SR182.20, respectively.
Americana Restaurants International PLC and Retal Urban Development Co. also saw their values decrease.
On the announcements front, the Saudi Exchange has confirmed the issuance of its resolution on approving Riyadh Cement Co.’s request to transfer from Nomu to the main market, with a capital of SR1.2 billion and 120 million shares.
According to a Tadawul statement, the firm’s shares will continue to be traded in the parallel market until the end of the period for publishing the transfer document, which is within three trading sessions following the announcement.
Meanwhile, Almunajem Foods Co. has announced the distribution of SR120 million in cash dividends to shareholders for the second half of 2023.
A bourse filing revealed that the total number of shares eligible for dividends amounted to 60 million, with the dividend per share at SR2.
In addition, the statement also revealed that the percentage of dividends to the share par value stood at 20 percent.
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