MENA to face high inflation at 14% in 2022 on account of Russia-Ukraine war: IMF
Follow-ups -eshrag News:
RIYADH: The Saudi main index managed to close Tuesday slightly higher, despite the uncertainty that is gripping the market at the moment.
At the closing bell, TASI gained 0.53 percent to reach 12,300, while the parallel market, Nomu, fell 0.50 percent to 22,251.
The shares of Saudi Industrial Export Co. gained 9.87 percent, leading the gainers in the market.
Kingdom Holding Co. fell 6.95 percent to lead the laggards, despite reporting profits for the first quarter of 2022.
Saudi Aramco, the largest player on the Saudi oil market, closed today’s trading up 1.65 percent.
Alhokair Group shares closed flat, following the announcement that its losses decreased by 48 percent in the first quarter.
In the financial sector, the Kingdom’s largest valued bank Al Rajhi edged up 0.33 percent, while Alinma Bank climbed 3.14 percent.
Telecom giants STC and Zain KSA were both down by 0.77 percent and 0.62 percent respectively.
From the pharma sector, Aldawaa Medical Services Co. gained 1.31 percent, and Nahdi Medical Co. advanced 1.58 percent.
The energy market saw Brent crude traded at $110.28 a barrel and US West Texas Intermediate crude reached $113.58 a barrel, as of 3:31 p.m. Saudi time
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