RIYADH: Saudi stocks opened Monday morning’s trading session higher for a second day despite fluctuating oil prices.
The main index, TASI, added 0.45 percent to reach 12,390, while the parallel market, Nomu, rose 0.46 percent at 22,430, as of 10:06 a.m. Saudi time.
Prices for crude oil were up slightly from Friday’s close. Brent crude rose to $113.77 a barrel and US West Texas Intermediate crude reached $111.38 a barrel, as of 10:02 a.m. Saudi time
Saudi Aramco, the largest player on the Saudi oil market, opened today’s trading up 0.64 percent.
Salama Cooperative Insurance Co. gained 7.08 percent to lead the market, while Anaam International Holding Group fell 4.23 percent to lead the laggards.
Arabian Pipes Co. gained 3.81 percent, after Saudi Aramco awarded the company a SR100 million ($27 million) contract to supply steel pipes.
In the financial sector, the Kingdom’s largest valued bank Al Rajhi increased 1.08 percent, while Alinma Bank gained 0.99 percent.
In the pharma sector, Aldawaa Medical Services Co. gained 0.13 percent, while Nahdi Medical Co. fell 0.65 percent.