TASI continues to rebound, boosted by solid banking earnings: Opening bell

RIYADH: The Saudi main index started the week’s final session higher, buoyed by strong results from the Kingdom’s banking sector, which lifted investor hopes, despite the GCC’s central banks increasing their interest rates on Wednesday by three quarters of a percentage point.

TASI edged 0.64 percent higher reaching 12,128, while the parallel market, Nomu, started flat at 20,826 as of 10:06 a.m. Saudi time.

Saudi National Bank, the Kingdom’s largest lender, added 0.57 percent, after reporting a 59 percent surge in first-half profit to SR9 billion ($2.4 billion).