Saudi stocks rise slightly as investors remain nervous: Closing bell

Follow-ups -eshrag News:

Sun, 2022-03-27 16:14

RIYADH: Saudi stocks ended slightly higher on Sunday, as investors remained nervous amid the ongoing invasion of Ukraine.

The main index, TASI, finished 0.4 percent higher to reach 12,999, while the parallel market, Nomu, rose 0.62 percent to 24,215.

In energy markets, last week energy prices spiked, with Brent crude closing at $121 a barrel on Friday, and West Texas Intermediate crude oil nearing $114 a barrel.

Saudi Tadawul Group Holding Co. led the gainers with an increase of 7.76 percent, while Riyad REIT Fund led the fallers, with a decline of 4.59 percent.

In the financial sector, Alinma Bank climbed 0.13 percent, while the Kingdom’s highest-valued bank, Al Rajhi, edged up 1.79 percent.

Fitaihi Holding Group surged 2.70 percent, despite announcing it would not distribute dividends in 2021, even as its profit jumped almost 400 percent.

Astra Industrial Group rose 5.08 percent, after announcing its intention to buy back up to 4 million shares to be retained as Treasury Shares.

Shares in the biggest player in the Saudi oil market, Aramco, ended today’s trading session down 1.76 percent.

Main category: 
Business & Economy
Saudi Arabia

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