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Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Thursday, gaining 216.56 points, or 1.82 percent, to close at 12,145.45.
The total trading turnover of the benchmark index was SR10 billion ($2.7 billion) as 154 stocks advanced, while 62 retreated.
Similarly, the MSCI Tadawul Index increased by 33.58 points, or 2.17 percent, to close at 1,579.44.
The Kingdom’s parallel market, Nomu, also gained 52.68 points, or 0.21 percent, to close at 24,693.92. This comes as 28 stocks advanced, while as much as 30 retreated.
The best-performing stock of the day was Saudi Tadawul Group Holding Co., whose share price surged 9.93 percent to SR212.60.
Other top performers included Saudi Arabian Amiantit Co. and Buruj Cooperative Insurance Co., whose share prices soared by 9.88 percent and 8.55 percent to stand at SR73.40 and SR22.08, respectively.
In addition to this, other top performers included the Saudi National Bank and Electrical Industries Co.
The worst performer was Musharaka REIT Fund, whose share price dropped by 3.38 percent to SR5.71.
Yamama Cement Co. as well as City Cement Co., also suffered losses with their share prices dropping by 3.20 percent and 2.92 percent to stand at SR 31.80 and SR19.26, respectively.
On the announcements front, the Securities Depository Center Co., also known as Edaa, declared the implementation of a corporate action on Middle East Paper Co. for Cooperative Insurance Securities.
In a Tadawul statement, Edaa initiated the increase in securities quantity for eligible securities’ holders, reflecting the dynamic nature of financial operations in the market.
Edaa also announced the successful deposit of subscribed securities in MBC Group Co. integrating the securities into the center’s accounts, benefiting eligible securities’ holders and contributing to the efficient management of financial assets.
Furthermore, the Capital Market Authority has officially approved the public offering of Alistithmar Capital Diversified SAR Fund by Alistithmar Capital Co.
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