TASI dips, oil prices down sharply: Closing bell

RIYADH: On the back of uncertainty around the war in Ukraine, the Saudi main index closed lower on Tuesday, while oil prices fell sharply.

In continuation of the downward trend from last week, oil prices fell below $100 per barrel at $89.13 per barrel on Brent crude, and $84.90 per barrel on WTI, as of 3:30 p.m. Saudi time.

As of the closing bell, TASI tumbled 0.68 percent to reach 12,407, while the parallel market, Nomu, gained 0.28 percent to 24,435.

Etihad Etisalat Co., or Mobily, led the gainers with a 4.48 percent gain, while Saudi Arabian Mining Co., or Ma’aden, led the fallers with a 6.88 percent drop.

The share price of Aldawaa Medical Services Co. fell 4.45 percent, despite gains in early trading.

In the financial sector, Al Rajhi Bank was trading flat, while Alinma Bank edged up 1.32 percent.

The shares of Saudi Aramco, the largest player on the Saudi oil market, edged down 1.40 percent.