In the realm of Saudi Arabia’s financial markets, the Tadawul All Share Index experienced a positive uptick on Thursday, closing at 11,225.35, marking a gain of 0.46 percent or 51.33 points. The trading day witnessed a turnover of SR6.1 billion ($1.62 billion), with a balanced mix of 107 stocks advancing and 107 retreating. The parallel market, Nomu, also saw a notable surge of 1.70 percent or 399.17 points, closing at 23,949, with 24 stocks advancing and 31 retreating. The MSCI Tadawul Index demonstrated a modest increase of 0.32 percent or 4.56 points, closing at 1,439.56.
TASI’s top performer for the day was Development Works Food Co., experiencing an impressive surge of 9.92 percent, closing at SR135.20. Other notable gainers included Al-Omran Industrial Trading Co. and National Agricultural Development Co., with increases of 7.99 percent and 5.66 percent, respectively. On the downside, Al-Baha Investment and Development Co. witnessed a decline of 6.67 percent. Additionally, Riyadh Cables Group Co. made headlines by successfully completing the second phase of its share buyback program, amounting to SR18.89 million. This strategic move aligns with the company’s commitment to its long-term employee stock incentive program and is part of a comprehensive 12-month plan approved at the extraordinary general meeting.