https://arab.news/8es9x
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Wednesday, gaining 83.6 points, or 0.69 percent, to close at 12,187.44.
The total trading turnover of the benchmark index was SR8.9 billion ($2.37 billion), as 127 of the listed stocks advanced, while 97 retreated.
The Kingdom’s parallel market Nomu, however, slipped by 30.28 points to close at 25,960.34, while the MSCI Tadawul Index gained 16.65 points to 1,522.72.
Red Sea International Co. was the best-performing stock of the day, with its share price rising 7.1 percent to SR37.70.
Other top gainers included Tourism Enterprise Co. and The National Co. for Glass Industries, whose shares rose by 6.1 percent and 5.13 percent, respectively.
Fawaz Abdulaziz Alhokair Co., also known as Cenomi Retail, was the worst performer, with its share price dipping 3.41 percent to SR10.2.
Abdullah Saad Mohammed Abu Monti for Bookstores Co. and Wataniya Insurance Co. also saw declines of 3.28 percent and 2.89 percent, respectively.
In the parallel market, Tat Mineral Trading Co. was the top performer, with its share price increasing by 9.83 percent to SR12.74.
Bena Steel Industries Co. and Riyadh Steel Co. also performed well, with share prices rising by 9.3 percent and 9.09 percent, respectively.
Pan Gulf Marketing Co. was the worst performer of the day, with its share price shedding 2.98 points, or 10.88 percent, to SR24.42.
Paper Home Co. and Fad International Co. also lost 7.38 and 7.36 percent, respectively.
On the announcement front, HSBC Saudi Arabia, acting as the main financial advisor and underwriter, has declared that Arabian Mills for Food Products Co. plans to move forward with its initial public offering on the Saudi Exchange, reinforcing its commitment to growth.
The company intends to list 30 percent of its shares on the main market by selling existing shares to investors.
The final share price for the offer will be determined after the book-building process is completed, ensuring an accurate valuation based on market demand.