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Saudi’s TASI plunges 0.62% as Russia-Ukraine conflict rattles stock markets: Closing bell

RIYADH: Saudi stocks closed lower on Sunday as Russia’s war in Ukraine caused stock markets to sway.

The main index, TASI, closed 0.62 percent lower at 12,605 points, while the parallel market, Nomu, shed 0.60 percent to 24,640.

AlJazira REIT climbed 3.83 percent to lead the gainers, while Malath Cooperative Insurance Co. slipped 5.58 percent to lead the tumblers.

As for the financial sector, Al Rajhi Bank and Alinma Bank were down by 0.13 percent and 0.73 percent, respectively.

Shares of Saudi Aramco, the largest player on the Saudi oil market, declined 2.80 percent.

Saudi Advanced Industries Co. gained 0.60 percent, as its profits tripled to SR91 million ($24 million) in 2021.

Though it opened with a gain, Elm Co. closed with a decline of 2.16 percent, despite recording an increase in profit of 85 percent in 2021.

Energy prices remained unchanged since the opening bell, with Brent crude trading at $112.67 per barrel and WTI at $109.33 per barrel.

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