TASI gives up gains on higher oil prices: Closing bell

RIYADH: Saudi Arabia’s main index closed Wednesday trading down, reversing three days of gains, as fear returns to markets and energy prices rise.

TASI was 0.48 percent down, maintaining its 13,038 points, while the parallel market, Nomu, shed 0.34 percent to reach 24,942 points.

Brent crude rose by $3.36 to $107.60 a barrel, while US WTI crude rose over $2.71 to $107.60 a barrel at 3:24 p.m. Saudi time

Among the top gainers, Astra Industrial Group surged by 8.62 percent, while Allied Cooperative Insurance Group fell by 5.24 percent to lead the fallers.

The second faller was BinDawood Holding Co., as its share price dropped 4.40 percent, following a 46 percent loss in net profit in 2021.

Aramco, the largest player on the Saudi oil market, closed today’s trading session 0.48 percent lower.

Shares in National Medical Care Co. increased 5.01 percent, reaching its highest level in nine years.

As both companies reported a drop in profit in 2021, Nahdi Medical Co. fell 0.25 percent and Aldawaa Medical Services Co. fell 1.07 percent.

Among banks, Alinma Bank edged down 0.77 percent, while the Kingdom’s largest valued bank, Al Rajhi, dropped 0.75 percent