RIYADH: Saudi Arabia’s Tadawul All Share Index experienced a rise on Thursday, gaining 42.57 points, or 0.36 percent, to close at 11,931.92. This marks the highest close since October 2022. The total trading turnover of the benchmark index was SR7.19 billion ($1.91 billion) as 123 of the listed stocks advanced, while 91 retreated. Similarly, the Kingdom’s parallel market Nomu also rose 231.09 points, or 0.96 percent, to close at 24,223.63. This comes as 37 of the listed stocks advanced, while 21 retreated. Meanwhile, the MSCI Tadawul Index rose 5.10 points, or 0.33 percent, to close at 1,543.06. The best-performing stock of the day was Maharah Human Resources Co. The company’s share price surged 4.83 percent to SR78.20. Other top performers included Allianz Saudi Fransi Cooperative Insurance Co. as well as National Agricultural Development Co. The worst performer was Al-Baha Investment and Development Co. whose share price dropped by 7.14 percent to SR0.13. Other poor performers were Riyad Bank as well as Abdullah Saad Mohammed Abo Moati for Bookstores Co. On the announcements front, Obeikan Glass Co. has revealed the decision of its board of directors on the approval of the firm’s transfer from Nomu to the main market. According to a Tadawul statement, the decisions also include the appointment of AL Rajhi Capital as a financial advisor for the purpose of transition, based on the requirements of the listing rules. Furthermore, Obeikan Glass Co. has also announced the board of directors’ decision to distribute SR64 million in cash dividends to shareholders for 2023. A bourse filing revealed that the total number of shares eligible for dividends amounted to 32 million, with the dividend per share standing at SR2. In addition to this, the statement also revealed that the percentage of dividends to the share par value stood at 20 percent. On another note, in Thursday’s trading session, Maharah Human Resources Co. saw its shares climb by 2 percent to stand at SR76.80. This marked the stock’s highest price in more than four years, since October 2019. Moreover, Alkhorayef Water and Energy Technology saw its shares surging by 5 percent to stand at SR196.40. With Thursday’s rise, the stock’s gains since the beginning of this month have reached about 25 percent, and since the beginning of this year, to more than 30 percent. Additionally, Salama Cooperative Insurance Co. has announced the distribution of SR7.55 million worth of compensation amounts to the holders of rights issues who have not exercised their right to subscribe to the new shares. Also, Naqi Water Co. has announced the signing of a contract to acquire a lease for an industrial land located in the second industrial city of Riyadh. According to a Tadawul statement, this land is owned by the Saudi Authority for Industrial Cities and Technology Zones, known as MODON. The acquisition contract, in collaboration with the Saudi Pump Spare Parts Co., entails the transfer of the lease to Naqi Water Co. Furthermore, Gulf General Cooperative Insurance Co. has announced that its Shariah advisor, namely, Shariyah Review Bureau, and its appointed Sharia Supervisory Committee has reviewed the activities of the firm in light of the specifications of Shariah. A bourse filing revealed that the key activities that were reviewed and certified are the separation of accounts for both shareholder and policyholder pools, investments made, and insurance policies. Meanwhile, Rabigh Refining and Petrochemical Co. has announced an unplanned shutdown of the High Olefins Fluid Catalytic Cracker to conduct emergency maintenance work on the unit. According to a Tadawul statement, this maintenance work aims to conduct the necessary repairs to ensure the safety and reliability of the unit. The financial impact will be reflected in the fourth quarter of 2023 and the first quarter of 2024.