RIYADH: Saudi Arabia’s main index gained ground in the first session of the week following a rise in oil prices on Friday.
TASI gained 1.01 percent to reach 11,953, while the parallel market Nomu started 0.26 percent higher at 20,490, as of 10:07 a.m. Saudi time.
Saudi oil giant Aramco climbed 1.23 percent, while Rabigh Refining and Petrochemical Co. increased 0.76 percent.
Al Rajhi, the Kingdom’s largest valued bank, edged up 1.05 percent, while Alinma Bank advanced 1.64 percent.
The Saudi National Bank, the country’s biggest lender, gained 1.21 percent, while Saudi Arabian Mining Co., known as Ma’aden, increased 2.02 percent.
Saudi Marketing Co. gained 5.06 percent to lead the gainers early in trading, while Riyad REIT Fund edged down 1.4 percent to lead the fallers.
Abdulmohsen Alhokair Group for Tourism and Development edged up 4.78 percent, as it entered negotiations with its unit to acquire hotels currently leased by the group.
Among cement firms, City Cement Co., Northern Region Cement Co., and Al Jouf Cement Co. gained 4.44 percent, 3.83 percent, and 3.27 percent, respectively.
In energy trading, Brent crude futures closed Friday higher at $92.84 a barrel, while US West Texas Intermediate traded at $86.79 a barrel.