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Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Wednesday, gaining 75.3 points, or 0.61 percent, to close at 12,343.72.
The total trading turnover of the benchmark index stood at SR7.09 billion ($1.89 billion), with 136 stocks advancing and 83 declining.
The Kingdom’s parallel market, Nomu, dropped 30.99 points, or 0.12 percent, to close at 25,653.38, as 26 stocks advanced and 33 retreated.
The MSCI Tadawul Index added 9.85 points, or 0.64 percent, to close at 1,545.63.
The best-performing stock of the day was Saudi Printing and Packaging Co., which surged 10 percent to close at SR14.52.
Other top performers included Saudi Industrial Development Co. and Saudi Fisheries Co., whose share prices rose 9.93 percent and 9.9 percent, respectively.
National Medical Care Co. was the worst performer, with its share price falling 2.47 percent to SR213.60.
Other underperformers were Gulf Union Alahlia Cooperative Insurance Co. and Saudi Reinsurance Co., which saw their share prices decline by 2.28 percent and 2.17 percent to SR16.26 and SR36, respectively.
On the parallel market, Al Mohafaza Co. for Education was the top performer, with its share price rising 9.21 percent to SR23.
Other top performers on Nomu were Armah Sports Co. and Balady Poultry Co., with their share prices increasing 5.33 percent and 4.49 percent, respectively.
Banan Real Estate Co. was the worst performer on Nomu, dropping 7.8 percent to SR5.44.
Other notable decliners included Academy of Learning Co. and Leen Alkhair Trading Co., with their shares down 6.73 percent and 4.55 percent, respectively.
On the announcements front, Saudi AZM for Communication and Information Technology Co. confirmed the award of a new project from the General Entertainment Authority.
The project aims to provide guidance and support to entrepreneurs and businesses in the entertainment sector, reflecting a strategic push to foster industry growth aligned with Saudi Arabia’s Vision 2030.
The project’s value exceeds 5 percent of AZM’s total revenues for the 2024 financial year. Its scope includes advisory services to strengthen the capabilities of entertainment sector stakeholders.
This initiative builds on the existing partnership between AZM and GEA. Previously, AZM collaborated with GEA on a major digital transformation project that modernized the authority’s operational framework.
Through that collaboration, AZM implemented IT solutions that enhanced GEA’s digital infrastructure, improving efficiency and service delivery. The project involved upgrading critical systems, automating processes, and integrating advanced technologies.
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