29/10/2026 03:50 AST
Saudi Arabia's Tadawul All Share Index rose on Wednesday, climbing 37.02 points, or 0.37 percent, to close at 10,023.47.
Trading activity totaled more than 348 million shares worth around SR5.22 billion ($1.39 billion), with 208 companies advancing and 55 declining.
The Nomu parallel market declined 263.65 points, or 1.22 percent, to close at 21,273.73, with 32 stocks advancing and 32 declining. Meanwhile, the MSCI Tadawul 30 Index increased 1.76 points, or 0.13 percent, to end the session at 1,355.28.
Market movers
BinDawood Holding Co. led the market's gainers, soaring 10 percent for the second consecutive day to close at SR4.84.
Arabia Insurance Cooperative Co. also jumped 10 percent to end the session at SR6.82, while Miahona Co. increased 9.91 percent to close at SR9.32.
On the downside, Qassim Cement Co. led the decliners, dropping 5.48 percent to close at SR44.14. Saudi Vitrified Clay Pipes Co. retreated 4.83 percent to SR46.92, while Watani Iron Steel Co. fell 4.11 percent to close at SR3.03.
Corporate disclosures
Acwa announced that it had signed a water purchase agreement with the Dubai Electricity and Water Authority, or DEWA, to develop a desalination plant in Dubai, with a daily production capacity of about 272,000 cubic meters, according to a Tadawul filing.
The company said the Hassyan Sea Water Reverse Osmosis Independent Water Project would be located within the Hassyan Complex in Dubai, UAE, adding that the agreement is valued at $478 million, with Acwa holding a 40 percent stake in the project.
Acwa, whose share price edged up 0.76 percent to SR158.20, said it will develop, finance, construct and operate the plant under a 30-year agreement, with the project's financial impact expected to begin in 2030.
Saudi Automotive Services Co., or SASCO, announced it completed the transfer of ownership of a property owned by its subsidiary Naft in Jeddah on Oct. 27, following its expropriation for the Jeddah Historical Project, according to a market statement.
The company said the expropriation would result in a gain of SR145,789, adding that the site had SR8.2 million in goodwill allocated to it following an acquisition, which will be subject to an impairment test at year-end in accordance with International Financial Reporting Standards.
The financial impact will be reflected in SASCO's consolidated 2026 financial statements.
SASCO, whose share price edged up 0.44 percent to SR36.86, had previously announced in April that it had received SR13.02 million in compensation for the expropriation.
Dkhoun National Trading Co. announced that it had mutually agreed with ASHDUD Investments Co. to terminate a previously signed contract, as per a market statement.
The Nomu-listed company, whose share price remained unchanged at SR50.50, said the termination involved no costs or financial obligations for either party, adding that the announcement updates an earlier disclosure published on the Saudi Exchange on May 7, regarding the signing of the contract.
ADES Holding Co. announced that a one-year extension option had been exercised for its Shelf Drilling Tenacious offshore drilling rig operating in Angola, adding about SR195 million to its contract backlog, according to a Tadawul filing.
The drilling services provider further said that the extension will begin immediately after the rig's existing firm contract expires in the first quarter of 2027, adding that the extension reflects the region's strong market fundamentals and the company's continued role in supporting its clients' activities.
The company, whose share price climbed 5.74 percent to SR17.31, said the option was exercised by an existing client described as a major international oil company.
Arab News
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