Saudi stocks rise as crude prices strengthen: Opening bell

RIYADH: Saudi stocks began the morning session on a positive note on Wednesday, buoyed by higher oil prices.

The main index, TASI, started 0.40 percent higher at 11,808, while the parallel market, Nomu, rose 0.11 percent at 20,839 as of 10:07 a.m. Saudi time.

In energy trading, Brent crude hit $106.14 a barrel and US West Texas Intermediate reached $102.82 a barrel, as of 10:04 a.m. Saudi time.

Almunajem Foods Co. gained 10 percent, leading gainers since Tuesday, following its announcement of a 225 percent increase in profit in the first half of the year.