Closing Bell: Saudi main index surges to close at 10,853

Closing Bell: Saudi main index surges to close at 10,853

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Thursday, gaining 38.47 points, or 0.36 percent, to close at 10,853.36. 

The total trading turnover of the benchmark index was SR6.88 billion ($1.83 billion) as 156 stocks advanced, while 62 retreated.  

Similarly, the Kingdom’s parallel market, Nomu, also rose 184.19 points, or 0.83 percent, to close at 22,369.63. This comes as 28 stocks advanced, while as many as 24 retreated. 

The MSCI Tadawul Index gained 7.80 points, or 0.56 percent to close at 1,408.44. 

The best-performing stock of the day was Mouwasat Medical Services Co., with its share price surging 5.10 percent to SR103. 

Other notable performers included Saudi Kayan Petrochemical Co. and Allied Cooperative Insurance Group, with their share prices soaring by 4.78 percent and 4.71 percent, respectively, reaching SR10.96 and SR12.46.  

On the flip side, the worst performer was the Power and Water Utility Co. for Jubail and Yanbu, with its share price dropping by 4.60 percent to SR53.90.  

Other underperformers were ACWA Power Co. and Saudi Steel Pipe Co., with share prices declining by 4.42 percent and 4.04 percent, respectively, standing at SR216 and SR34.35. 

In company announcements, ACWA Power released its interim financial results for the period ending on Sept. 30.  

According to a Tadawul statement,