Almarai eyes market expansion with new products in 2022

RIYADH: TASI rebounded on Tuesday afternoon as investors moved beyond the continuing Russian-Ukrainian conflict as an immediate concern.

The price of Brent crude futures increased to $116.51 a barrel, as US WTI futures climbed to $112.65 per barrel, as of 3:30 p.m. Saudi time.

TASI, the main index, rose 0.39 percent to 12,881, while Nomu, the parallel market, lost 0.91 percent to 24,442.

Nahdi Medical Co. continued to be the top gainer in its first trading day since listing on the main index, rising 14.50 percent.

This is the most significant entry to TASI since the debut of oil major Aramco in 2019.

Topping the list of fallers was Ataa Educational Co., which fell 3.69 percent, along with Arabia Insurance Cooperative Co., which dropped 3.49 percent.

The stock of ACWA Power surged 3.76 percent as it hit a record high of SR120.20 ($32).

The shares of Saudi Aramco, the largest player on the Saudi oil market, edged up 0.35 percent.

In the financial sector, Saudi’s largest valued bank, Al Rajhi, tumbled 1.90 percent, while Alinma Bank slid 1.44 percent.

Tabuk Cement Co. declined 0.80 percent following the announcement of a 65 percent decline in its profits for 2021.