JEDDAH: Saudi Arabia’s Tadawul All Share Index rebounded on Wednesday, gaining 162.76 points, or 1.65 percent, to close at 10,038.89.

Trading activity totaled approximately 252.6 million shares worth more than SR4.48 billion ($1.20 billion), with 242 companies advancing and 24 declining.

The Nomu parallel market increased 79.96 points, or 0.37 percent, to close at 21,527.63, with 36 stocks advancing and 26 declining.

The MSCI Tadawul 30 Index rose 21.22 points, or 1.58 percent, to end the session at 1,363.96.

Market movers

Malath Cooperative Insurance Co. topped the gainers, rising 10 percent to SR9.02.

National Gas and Industrialization Co. Holding climbed 9.98 percent to end the day at SR60.60, while Alamar Foods Co. advanced 9.96 percent to end the session at SR42.16.

On the losing side, Yanbu Cement Co. led the decliners, falling 3.87 percent to SR12.90. BinDawood Holding Co. dropped 2.33 percent to close at SR4.62, while Bonyan REIT Fund slipped 2.15 percent to SR57.72.

Corporate disclosures

Rabigh Refining and Petrochemical Co., or Petro Rabigh, announced that it has appointed its President and CEO, Hassan bin Hamad Al-Yami, as an executive board member to fill a vacant seat, according to a bourse filing.

The company said that the appointment took effect on Nov. 3 following a board resolution and will be submitted for approval at the company’s next general assembly meeting.

Petro Rabigh, whose share price increased 1.45 percent to SR15.37, added that Al-Yami has more than 30 years of experience in the refining and petrochemical industries.

It added that he previously served as vice president of Saudi Aramco’s Ras Tanura Refinery and held senior executive positions at several Aramco-affiliated companies in the Kingdom and abroad.

Amwaj International Co. announced that two appellate court rulings had upheld judgments ordering two companies to pay it a combined SR22 million, according to separate filings on the Saudi Exchange.

Amwaj said the First Appellate Circuit of the Commercial Court in Madinah upheld a judgment ordering Adwaa Al Qamar Al Haditha for Home Appliances Co. to pay it SR7.59 million in outstanding payments for electrical appliances supplied by the company.

In a separate case, the Third Appellate Circuit of the Commercial Court in Jeddah upheld a first-instance judgment ordering Baz United Trading Co. to pay Amwaj SR14.4 million for household electrical appliances supplied to the company.

The Nomu-listed company, whose shares rose 10 percent to SR12.10, clarified that the rulings do not mean the awarded amounts have been collected.

It added that the accounting impact would depend on the previous treatment of the related balances, their recoverability, and any associated provisions, in accordance with applicable accounting standards.

Riyal Investment and Development Co. announced it has signed a five-year framework agreement with MASA Services Co. for operation and maintenance worth approximately SR31.05 million, including VAT, according to a Tadawul statement.

Under the agreement, Riyal said it will provide vehicle leasing and rental services to MASA in line with agreed requirements and quantities.

The Nomu-listed company, whose share price remained unchanged at SR11.55, said the financial impact is expected to be reflected in its results over the contract period, starting Jan. 1, 2027.

Sure Global Tech Co. announced that its 20.46-percent-owned subsidiary, SurePay, had obtained a Payment Technical Service Provider certificate for e-commerce payments, according to a market release.

Sure Global said the certificate is expected to support SurePay’s efforts to expand its technical services in the electronic payments sector and create potential opportunities for cooperation with industry partners.

It added that SurePay is licensed by the Saudi Central Bank as a small payment institution and also holds permits to provide point-of-sale payment services, including through SoftPOS technology.

The company, whose share price edged up 1.04 percent to SR37, said the certificate’s financial impact on its results could not yet be determined, as it would depend on SurePay’s ability to generate business from the certification and secure future agreements.