TASI fails to rebound as investor sentiment dips: Closing bell

RIYADH: Saudi stocks fell on Wednesday despite a recent rebound, as the Fed Reserve’s planned rate hikes and the threat of a recession continue to weigh on investor sentiment.

The main index, TASI, fell 2.91 percent to close at 11,319, while the parallel market, Nomu, decreased 1.08 percent to 20,649.

Arab Sea Information System Co. gained 4.76 percent to lead the gainers, followed by Rabigh Refining and Petrochemical Co. with a 4.41 percent gain.