RIYADH: Saudi Arabia’s main index started the week in the red, with investors remaining alarmed by the Kingdom’s annual inflation rate surpassing 3 percent for the first time in 14 months.
The Tadawul All Share Index began the week with a 0.22 percent drop at 11,803, while the parallel market Nomu started with a 0.65 percent gain at 21,060, as of 10:09 a.m. Saudi time.
Saudi oil giant Aramco gained 0.55 percent, while Rabigh Refining and Petrochemical Co. fell 1.94 percent.
Almarai Co.dropped 0.75 percent, after announcing the full redemption of its SR1.6 billion ($426 million) sukuk on Sept. 16.
The Kingdom’s largest valued bank Al Rajhi added 0.11 percent, while Alinma Bank edged down 0.81 percent.
The Saudi National Bank, which is the Kingdom’s largest lender, decreased 1.23 percent.
Saudi British Bank edged down 1.99 percent, after completing a SR1.2 billion deal to trade certain lines of business between HSBC Saudi Arabia and Alawwal Invest Co.
Saudi Paper Manufacturing Co. gained 4.95 percent to lead the gainers in early trading, while SABB Takaful Co. fell 4.75 percent to lead the fallers.