TASI declines ahead of Fed rate decision: Opening bell

RIYADH: Saudi Arabia’s main index started lower on Wednesday as investors prepared for another large rate hike to be announced by the Federal Reserve.

The Tadawul All Share Index dropped 0.1 percent to start at 11,491, while the parallel market Nomu started flat at 20,210, as of 10:06 a.m. Saudi time.

Saudi oil giant Aramco began the day flat, while Rabigh Refining and Petrochemical Co. fell by 0.42 percent.

The Saudi National Bank, the Kingdom’s largest lender, decreased 0.47 percent, while Saudi British Bank declined 1.04 percent.