Saudi stocks trade in green zone despite spike in COVID-19 cases: Opening bell

  • 1/3/2022
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RIYADH: Saudi Arabia’s main stock indexes were up in early trading on Monday despite a surge in coronavirus cases as the Kingdom saw 1,024 newly confirmed infections in the previous day. As of 10:20 a.m. Saudi time, the main index TASI edged up by 0.23 percent to 11,358 points, while the Nomu parallel market rose 0.39 percent to 26,379 points. Early morning gains were supported by increases in the shares of Al Rajhi Bank, Alinma Bank, and Saudi Aramco which rose to SR144 ($38.4), SR25, and SR35.6, respectively. Al-Moammar Information Systems, or MIS, continued its uptrend from last session as it rose 2.2 percent to SR167. The company received a notice from Saudi Fransi Capital to activate phase one of the deal to build six data centers at an initial value of SR1.2 billion. The top gainer was Abdullah Saad Mohammed Abo Moati for Bookstores Co. It added 5 percent to hit SR41. Shares in Sadr Logistics were down for a fourth consecutive day, reaching SR87.6 with losses amounting to nearly 6 percent. ACWA Power’s share price fell to SR84.7 after it secured a $125 million senior refinancing facility for its subsidiary Rabigh Arabian Water and Electricity Co., known as RAWEC.

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