RIYADH: Saudi Arabia’s Tadawul All Share Index continued its upward movement on Thursday, as it went up by 29.28 points or 0.27 percent to 10,964.67, as investors gained confidence from favorable market conditions. On Thursday, parallel market Nomu edged up 338.34 points or 1.67 percent to close at 20,573.95, while the MSCI Tadawul 30 Index climbed by 0.23 percent to 1,487.08. The total trading turnover of the benchmark index was SR5.17 billion ($1.38 billion). Al Kathiri Holding Co. was the top gainer of the day, as its share prices went up by 9.80 percent to SR3.81. Other top performers were Anaam International Holding Group and Al-Baha Investment and Development Co., whose share prices rose by 6.18 percent and 5.70 percent respectively. Meanwhile, United Electronics Co., also known as eXtra, reported an estimated net profit of SR84.4 million for the first quarter of 2023, down by 13 percent compared to the same period in the previous year. Driven by the drop in profit, eXtra’s share prices dropped by 3.08 percent to SR75.60. For the second half of 2022, the board of eXtra declared a 20 percent cash dividend, or SR2 per share. Other worst performers of the day were Saudi Arabian Amiantit Co. and Tihama Advertising and Public Relations Co. whose share prices dropped by 2.36 percent and 2.30 percent respectively. On Thursday, Mediterranean and Gulf Insurance and Reinsurance Co. announced its financial results for 2022. According to a Tadawul statement, the company’s net loss widened to SR315 million in 2022 from SR140.6 million in 2021. MEDGULF, in the statement, attributed the loss to the underwriting performance of the motor segment and some of the large accounts in the medical segment. The company’s share prices went down on Thursday by 1.24 percent to SR7.95. Meanwhile, Ghida Al-Sultan Co. which began trading on Nomu on April 13, with a base price of SR86.40, dropped by 6.43 percent to close at SR78.60.