RIYADH: Saudi Arabia’s Tadawul All Share Index ended its upward swing of three consecutive days on Wednesday, as it shed 27.17 points, or 0.23 percent, to close at 11,591.55. The total trading turnover of the benchmark index was SR8.48 billion ($2.26 billion) as 87 of the 228 listed stocks advanced, while 128 retreated. While the parallel market Nomu lost 539.05 points to close trading at 24,630.02, the MSCI Tadawul Index dropped by 0.09 percent to 1,528.37. The best-performing stock of the day was the Mediterranean and Gulf Insurance and Reinsurance Co. whose share price soared by 10 percent to SR12.32. Other top gainers include Saudi Advanced Industries Co. and Saudi Chemical Co. as their share prices surged by 5.98 percent and 5.84 percent respectively. The worst performer of the day was Arabian Contracting Services Co., with its share price edging down by 5.91 percent to SR175. In Nomu, the share price of Future Care Trading Co. dipped by 13.24 percent to SR29.15. On the announcements front, TAM Development Co. revealed that it received a purchase order letter to execute the Youth Voice project for the Mohammed bin Salman Foundation, also known as Misk. According to a statement to Tadawul, the purchase order letter is valued at SR5.82 million, and the project duration is nine months. The statement further noted that TAM Development Co. will provide the needed consulting services and digital solutions to execute the project. The financial impact of the deal will be reflected on the company’s results from the third quarter of 2023. Meanwhile, shareholders of Al-Baha Investment and Development Co. approved reducing the stock’s par value from SR10 to SR0.10. Upon approval, the number of shares rose from 29.7 million to 2.97 billion, according to a Tadawul statement.