RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Monday, gaining 64.77 points, or 0.55 percent, to close at 11,780.27. The total trading turnover of the benchmark index was SR7.07 billion ($1.89 billion) as 122 of the listed stocks advanced, while 96 retreated. However, the Kingdom’s parallel market Nomu shed 79.67 points to close at 23,111.76, even as MSCI Tadawul Index gained 0.54 percent to 1,550.3 points. Saudi insurer Malath Cooperative Insurance Co. topped the gainers in TASI as its share price surged 6.2 percent to reach SR22.94. Other top performers included Saudi Awwal Bank and Makkah Construction and Development Co., whose share prices soared 4.91 percent and 4.79 percent to reach SR41.7 and SR76.5, respectively. The worst performer was Saudi digital security firm Elm Co., whose share price dropped 3.25 percent to SR626. Following Elm was Al Mawarid Manpower Co., falling 2.17 percent to reach a share price of SR135. Amwaj International Co. was the top gainer in Nomu, with its share price climbing 14.29 percent to SR128. Another good performer in Nomu was Saudi Parts Center Co. The company’s share price on Monday increased 6.25 percent to SR68. Future Care Trading Co. was a major loser on Nomu, as the company’s share price slipped by 13.33 percent to SR13. The share price of Alwaha REIT Fund also dropped by 9.31 percent to SR11.5. On the announcement front, Saudi Arabia’s dairy giant Almarai Co. announced its plans to issue dollar-denominated sukuk under the $2 billion Trust Certificate Issuance Program for general corporate purposes. In its bourse filing, the food and beverages group noted that the issuance size is yet to be decided and will depend on the market conditions at the time of issuance. As the largest dairy producer in the Gulf region, the company has designated Citigroup, Dubai Islamic Bank, HSBC, J.P. Morgan and Standard Chartered Bank as joint lead managers for the offering. In the second quarter of 2023, Almarai’s net profits rose 7 percent to $148.45 million.