TASI rises, oil prices swell as Russian invasion escalates: Closing bell

Follow-ups -eshrag News:

Tue, 2022-03-08 16:10

RIYADH:  Saudi stocks ended the day higher on Tuesday despite a dive in global stock markets as another huge leap in oil prices raised the spectre of inflationary pressures.

At the closing bell, the main index, TASI, closed 0.34 percent higher to 12,851, while the parallel market Nomu fell 0.35 percent to 24,542.

In the energy market, Brent crude prices climbed to $126.08 per barrel, while US WTI crude prices reached $121.57 per barrel, as of 3:30 p.m. Saudi Time.

Rabigh Refining and Petrochemical Co. edged up 9.47 percent to lead the gainers, while SABIC Agri-Nutrients Co. lost 3.21 percent to lead the fallers.

Zahrat Al Waha for Trading Co. gained 7.64 percent, after signing a SR60 million ($16 million) Islamic banking and financing agreement with Saudi National Bank.

The shares of Saudi Aramco, the largest player on the Saudi oil market, edged down 0.45 percent.

In the financial sector, Al Rajhi Bank gained 0.91 percent, while Alinma Bank rose 1.97 percent.

Main category: 
Business & Economy
Saudi Arabia

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