RIYADH: The main Saudi stock exchange started the day in positive territory for the fourth consecutive day as investors were buoyed by rising stock prices. As of 10:22 a.m. Saudi time, TASI, the main index, edged up by 0.1 percent to 11,859 points, while the parallel market Nomu opened 0.5 percent lower at 26,022. Saudi Research and Media Group, or SRMG, led the gainers, up 5.4 percent to a record high of SR246 ($66). The Kingdom’s largest bank by market cap, Al Rajhi Bank boosted the index as it added 0.13 percent. This was buoyed further by a 0.7-percent increase in Saudi Tadawul Group’s share price. Nafiyat Finance Co. saw more than 1.3 million shares traded as of early morning, registering gains of 3.3 percent. Following the merger with AlAhli Takaful Co. effective today, Arabian Shield Insurance Co. gained over 2 percent. Shares of the Saudi National Bank, or SNB, were down 0.14 percent after it launched the sale of 5-year dollar-denominated bonds, namely Sukuk, at a par value of $200,000. In energy trading, Brent crude neared $84 per barrel and US WTI crude oil reached $81.3 per barrel as of 10:23 a.m. Saudi time.
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