RIYADH: The Saudi stock market started flat on Monday as economic slowdown fears and shifting oil prices affected the market.
The Tadawul All Share Index started at 12,194, while the parallel Nomu declined 0.85 percent to 21,456, as of 10:08 a.m. Saudi time.
Riyadh Cement Co. shed 2.23 percent, after reporting a decline of 47 percent in profit to SR85 million ($23 million) in the first half of the year.
Group Five Pipe Saudi Co. dropped 6.19 percent, after turning into losses of SR19 million in the first half of 2022.
Saudi Automotive Services Co. rose 0.74 percent, following its board’s decision to pay cash dividends of SR0.50 per share in the first half of 2022.
Saudi oil giant Aramco began the day with a 0.27 percent increase, while Rabigh Refining and Petrochemical Co. started with a 0.35 percent decline.
The Saudi National Bank, the country’s biggest lender and a major market player, saw its share price rise by 0.15 percent
Al Rajhi, the Kingdom’s largest valued bank, dropped 0.45 percent, while the Saudi British Bank fell 0.25 percent.
Brent crude futures traded at $95.23 a barrel, while US West Texas Intermediate traded at $88.76 a barrel, as of 10:06 a.m. Saudi time