TASI gains as Saudi Homes Loans soars 20% on debut: Opening bell

RIYADH: The main index opened higher on Wednesday in early trading as Saudi Home Loans shares surged as it debuted on the Saudi exchange today.

Shares of Saudi Home Loans Co. soared 20.50 percent to lead the gainers list, as of 10:11 a.m. Saudi time.

TASI began 0.54 percent higher to 13,579, while the parallel market, Nomu, opened almost unchanged percent at 24,077.

Leejam Sports Co., known as Fitness Time, fell 9.12 percent leading the fallers, despite making SR46 million ($12 million) in profits in the first quarter of 2022.

Arriyadh Development Co. gained 0.86 percent, after reporting a 25 percent rise in profit to SR139 million in the first quarter of 2022.

In the financial sector, Alinma Bank edged down 0.37 percent, while Al Rajhi Bank gained 0.79 percent.

Saudi Aramco, the largest player on the Saudi oil market, opened today’s trading up 1.06 percent.

In energy trading, Brent crude oil reached $108.57 per barrel, and US benchmark WTI crude oil reached $103.53 per barrel, at 10:29 a.m. Saudi time.