Saudi Main Index Continues Rally
Tadawul All Share Index Gains 0.74 Percent Closing at 11,682.23
Riyadh: Saudi Arabia's Tadawul All Share Index extended its rally for a third consecutive session on Wednesday, increasing by 86.23 points or 0.74 percent to close at 11,682.23.
The trading activity during the day reached SR6.68 billion ($1.78 billion), with a total of 134 stocks advancing and 118 declining.
The Kingdom's parallel market, known as Nomu, experienced a decline of 51.99 points, resulting in a closing value of 25,637.29.
Additionally, the MSCI Tadawul Index saw a modest increase of 0.61 percent to reach 1,519.64.
Rabigh Refining and Petrochemical Co. led the gainers by climbing 8.38 percent to SR9.31.
ACWA Power also rose significantly, increasing by 6.03 percent to SR237.50, while Tabuk Cement Co. advanced by 5.93 percent to reach a value of SR10.90.
On the negative side, Thob Al Aseel Co.'s share price decreased by 6.15 percent to SR3.51.
In terms of announcements, Atlas Elevators General Trading and Contracting Co. revealed plans to issue a riyal-denominated sukuk with an initial value of SR40 million.
The offering is set to begin on October 19th and will remain open until July 1st, 2027, as stated in the company's Tadawul filing.
Atlas Elevators further explained that the final issuance size will be determined at the end of the subscription period, based on market conditions.
It is worth mentioning that proceeds from this sukuk will be allocated to expanding Atlas National Elevator Co., a subsidiary, and for relocating its factory to Riyadh's Second Industrial City.
As a result of these announcements, Atlas Elevators' shares rose by 1.59 percent, reaching SR16.
In other news, Retal Urban Development Co. announced that its subsidiary, Building Construction Co. Ltd., has entered into a SR461.9 million contract with ROSHN Group, which is owned by Saudi Arabia's sovereign wealth fund.
This contract involves the design and construction of six residential buildings within the SEDRA community in Riyadh City.
The expected duration of this project is 28 months, and Retal expects this to positively impact its financial performance between 2026-2028.
Consequently, Retal Urban Development Co.'s shares saw a modest gain of 0.17 percent, closing at SR11.63.
The trading activity during the day reached SR6.68 billion ($1.78 billion), with a total of 134 stocks advancing and 118 declining.
The Kingdom's parallel market, known as Nomu, experienced a decline of 51.99 points, resulting in a closing value of 25,637.29.
Additionally, the MSCI Tadawul Index saw a modest increase of 0.61 percent to reach 1,519.64.
Rabigh Refining and Petrochemical Co. led the gainers by climbing 8.38 percent to SR9.31.
ACWA Power also rose significantly, increasing by 6.03 percent to SR237.50, while Tabuk Cement Co. advanced by 5.93 percent to reach a value of SR10.90.
On the negative side, Thob Al Aseel Co.'s share price decreased by 6.15 percent to SR3.51.
In terms of announcements, Atlas Elevators General Trading and Contracting Co. revealed plans to issue a riyal-denominated sukuk with an initial value of SR40 million.
The offering is set to begin on October 19th and will remain open until July 1st, 2027, as stated in the company's Tadawul filing.
Atlas Elevators further explained that the final issuance size will be determined at the end of the subscription period, based on market conditions.
It is worth mentioning that proceeds from this sukuk will be allocated to expanding Atlas National Elevator Co., a subsidiary, and for relocating its factory to Riyadh's Second Industrial City.
As a result of these announcements, Atlas Elevators' shares rose by 1.59 percent, reaching SR16.
In other news, Retal Urban Development Co. announced that its subsidiary, Building Construction Co. Ltd., has entered into a SR461.9 million contract with ROSHN Group, which is owned by Saudi Arabia's sovereign wealth fund.
This contract involves the design and construction of six residential buildings within the SEDRA community in Riyadh City.
The expected duration of this project is 28 months, and Retal expects this to positively impact its financial performance between 2026-2028.
Consequently, Retal Urban Development Co.'s shares saw a modest gain of 0.17 percent, closing at SR11.63.
