Saudi Arabia: Saudi Arabia’s Tadawul All Share Index extended its rally for a third straight session on Wednesday, gaining 86.23 points, or 0.74 percent, to close at 11,682.23. 

The benchmark index recorded a total trading turnover of SR6.68 billion ($1.78 billion), with 134 stocks advancing and 118 declining. 

The Kingdom’s parallel market, Nomu, slipped 51.99 points to 25,637.29, while the MSCI Tadawul Index edged up 0.61 percent to 1,519.64. 

Rabigh Refining and Petrochemical Co. led the gainers, climbing 8.38 percent to SR9.31. ACWA Power rose 6.03 percent to SR237.50, while Tabuk Cement Co. advanced 5.93 percent to SR10.90. 

On the downside, Thob Al Aseel Co. fell 6.15 percent to SR3.51. 

On the announcements front, Atlas Elevators General Trading and Contracting Co. announced plans to issue a riyal-denominated sukuk with an initial value of SR40 million. The offering will open on Oct. 19 and run until July 1, 2027, the company said in a Tadawul filing. 

Atlas Elevators added that the final issuance size will be determined at the end of the subscription period based on market conditions. Proceeds will fund the expansion of Atlas National Elevator Co., a subsidiary, and the relocation of its factory to Riyadh’s Second Industrial City.  

Its shares rose 1.59 percent to SR16. 

Meanwhile, Retal Urban Development Co. said its subsidiary Building Construction Co. Ltd. signed a SR461.9 million contract with ROSHN Group, owned by Saudi Arabia’s sovereign wealth fund, to design and build six residential buildings within the SEDRA community in Riyadh City.