RIYADH: The Saudi main index opened the week on a positive note despite a global risk-off sentiment amid recession fears.
The main index, TASI, gained 0.92 percent to reach 12,645, while the parallel market, Nomu, started almost unchanged at 22,266, as of 10:06 a.m. Saudi time.
National Agricultural Development Co., or Nadc, gained 6.80 percent, leading the market gainers; East Pipes Integrated Co. for Industry. fell 8.71 percent, leading the underperformers.
In the financial sector, the Kingdom’s largest valued bank Al Rajhi rose 1.38 percent, Alinma Bank climbed 1.05 percent, and Bank Albilad added 2.18 percent
Telecom giants stc and Zain KSA were both up by 0.77 percent and 1.84 percent respectively.
In the pharma sector, Aldawaa Medical Services Co. gained 0.64 percent, while Nahdi Medical Co. climbed 0.76 percent.
Saudi Aramco, the largest player on the Saudi oil market, opened today’s trading up 1.47 percent.
Oil prices rose on Friday, with Brent crude exiting the week at $119.43 and US West Texas Intermediate settling at $115.07.