TASI edges up as Moody’s affirms Saudi Arabia’s ‘A’ rating: Opening bell

RIYADH: Saudi Arabia’s main stock market opened higher on Wednesday after credit rating agency Moody’s affirmed the Kingdom’s rating at ‘A’ with a stable outlook.

The main TASI index added 0.54 percent to 12,731, while the parallel market Nomu slipped nearly 0.2 percent to 22,277 as of 10:08 a.m. Saudi time.

This was driven by gains in some of TASI’s biggest weights, with oil giant Aramco rising 0.9 percent and the biggest player in the banking sector, Al Rajhi Bank, adding 0.7 percent.