TASI extends gains for a third day on cautious optimism: Opening bell

  • 1/11/2022
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RIYADH: The Saudi stock exchange saw gains in early trading for the third consecutive day, with banks leading the way. As of 10:14 a.m. Saudi time, both indexes — TASI and Nomu — edged up to reach 11,681 and 25,859 points, respectively. Gains were buoyed by the Kingdom’s Al Rajhi Bank which added 0.3 percent, reaching SR146 ($38.9). The bank saw the highest value traded in the early morning. This was further supported by a 0.3 percent increase in shares of the Saudi National Bank, SNB. One of the Kingdom’s largest by market value, utility provider Saudi Electricity Co. witnessed a 0.4-percent increase in its share price, up to SR25.4. Shares of United Electronics Co., known as eXtra, opened 0.8 percent lower even as it posted its highest ever estimated annual profit for the fiscal year 2021, standing at SR397 million. Abo Moati for Bookstores Co. was the highest gainer so far, up 4 percent, while Alujain Holding Group fell the most, down 1.3 percent.

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