RIYADH: Saudi Arabia’s main index started Monday morning almost flat after hitting its lowest close since last December on Sunday as global equity markets were shaken by aggressive interest rate hikes.
TASI added 0.04 percent to 11,303, while the parallel market, Nomu, rose 0.10 percent to 20,761, as of 10:07 a.m. Saudi time
Saudi Pharmaceutical Industries and Medical Appliances Corp. soared 3.23 percent, leading the market gainers; Saudi Paper Manufacturing Co. declined 4.32 percent, leading the market fallers.
Al Hassan Ghazi Ibrahim Shaker Co. gained 0.85 percent, following the signing of an agreement to purchase 40 percent of Cashew Payments Holding Ltd.
In the financial sector, the Kingdom’s largest valued bank Al Rajhi edged up 0.37 percent, while Alinma Bank fell 0.62 percent.
Saudi Aramco, the largest player on the Saudi oil market, opened today’s trading down 0.41 percent.
Saudi Electricity Co. fell 0.09 percent, following the appointment of Khalid Hamad Algnoon as CEO.
Saudi Airlines Catering Co. edged down 1.32 percent, following the announcement that its accumulated losses have decreased to 19.3 percent of capital.
Telecom giants stc increased 0.20 percent, while Zain KSA started the day flat.
The energy market saw Brent crude traded at $113.80 a barrel and US West Texas Intermediate crude reached $109.58 a barrel, as of 10:02 a.m. Saudi time.