RIYADH: Saudi Arabia’s Tadawul All Share Index continued its upward trend for the third consecutive day as it surged 108.68 points, or 0.88 percent, to close at 12,404.59. The main index posted a trading value of SR11.50 billion ($3.07 billion) with 129 of the listed stocks advancing and 85 declining. The Kingdom’s parallel market Nomu also edged up 73.44 points to 25,378.92. On the other hand, the MSCI Tadawul Index gained 13.63 points to close at 1,604.88. The best-performing stock on the main index was Tanmiah Food Co. The company’s share price surged by 9.89 percent to SR122.20. Other top performers were Salama Cooperative Insurance Co. and Al-Baha Investment and Development Co., whose share prices went up by 8.70 percent and 7.14 percent, respectively. The worst performer of the day was Lumi Rental Co., as its share price dipped by 5.13 percent to SR114.60. On the announcements front, Riyad Bank revealed that its board of directors had recommended a 7.5 percent cash dividend, which equals SR0.75 per share for the second half of 2023. Earlier in February, the bank had announced that its net profit for 2023 surged 15 percent compared to the previous year to hit to SR8.04 billion. Meanwhile, Yamama Cement Co.’s board of directors recommended a 10 percent cash dividend at SR10 per share. The company, on Feb. 12, reported that its net profit plunged by 15 percent in 2023 to SR304.3 million, compared to 2022. MSCI also announced the results of its periodic review on Feb. 13. It added ADES Holding Co. to the MSCI Global Standard Index and excluded Rabigh Refining and Petrochemical Co. MSCI also included Lumi Rental Co., Saudi Reinsurance Co., and Saudi Steel Pipe Co. to the MSCI Saudi Arabia Small Cap Index. However, Riyadh Cables and Saudi Fisheries Co. were excluded from the Small Cap Index. National Industrialization Co., also known as Tasnee, was excluded from the MSCI Global Standard Index, and it was added to the MSCI Saudi Arabia Small Cap Index.