TASI sheds 2.2%, weighed down by major market players: Closing bell

RIYADH: Saudi Arabia’s stock market closed lower on Sunday, tracking a drop in oil prices after China imposed new COVID-19 lockdown measures.

The main TASI index lost 2.2 percent to 12,322, and the parallel market Nomu shed 2.3 percent to 21,737.

This was driven by losses in some of TASI’s heavyweights, with oil giant Aramco dropping 3 percent, and the biggest player in the banking sector, Al Rajhi Bank, down 1.2 percent.

Further in the financial sector, Alinma Bank lost 2.2 percent amid trading of over 7 million shares.