MENA-based energy investments backed by soaring oil and gas prices: APICORP

RIYADH: Saudi stocks opened higher for the second straight day, driven by positive market moves.

As of Monday, 10:24 a.m. Saudi time,the main index, TASI, edged up 0.50 percent to 12,526 points. 

The parallel market, Nomu, edged down 0.26 percent to 25,045 points.

In the financial sector, the Kingdom’s largest valued bank, Al Rajhi Bank, fell by 0.60 percent, while Alinma Bank rose by 2.81 percent.

Oil giant Aramco climbed 1.06 percent, while Yanbu National Petrochemical Co. rose 0.91 percent, after reporting a 126 percent profit growth in 2021.

Etihad Etisalat Co ., known as Mobily, gained 1.31 percent, following a 37 percent profit increase in 2021.

Despite leading the gainers last week Elm Co. fell 1.78 percent to lead the fallers.

Saudi Industrial Export Co., or SIECO, led gainers in early trading, up 5.15 percent.

In energy trading, crude reached $90.79 per barrel, and US benchmark WTI fell to $93.24 per barrel at 2:55 p.m. Saudi time.