TASI ends in red as oil prices fall, recession fears grow: Closing bell

Follow-ups -eshrag News:

Thu, 2022-09-01 15:55

RIYADH: The Saudi stock market ended September’s first trading session in the red due to weaker oil prices and recession concerns.

TASI ended Thursday with a 1.15 percent decline at 12,142, while the parallel Nomu fell 1.44 percent to 21,326.

In energy trading, Brent crude declined to $94.20 a barrel, while US West Texas Intermediate reached $88.37 a barrel, as of 3:19 p.m. Saudi time.

Saudi Enaya Cooperative Insurance Co. gained 6.28 percent following the Saudi Central Bank’s approval to reduce its capital to SR100 million ($27 million).

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