Saudi stock market bounces as oil prices ease : Opening bell

  • 4/11/2022
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RIYADH: Saudi stocks opened in positive territory for a second straight day as oil prices ease. The main index, TASI, gained 11 percent to 13,409, while the parallel market, Nomu, advanced 0.30 percent to 24,317, as of 10:06 a.m. Saudi time. The early morning saw oil prices lower, with Brent crude trading at $100.22 a barrel and US West Texas Intermediate at $95.64 a barrel, as of 10:21 a.m. The Saudi Cement Co. led the fallers with a 3.77 percent drop, while Almasane Alkobra Mining Co., known as Amak, led the gainers with a 3.85 percent gain. Shares of Saudi pharma giants Aldawaa Medical Services Co. and Nahdi Medical Co. rose 0.26 percent and 1.18 percent, respectively. Saudi Aramco, the largest player on the Saudi oil market, opened today"s trading session 0.12 percent lower. The Saudi Industrial Investment Group edged up 0.41 percent, after it was approved to acquire all shares of Petrochem. In the financial sector, Alinma Bank and Al Rajhi Bank saw their shares rise 0.24 percent and 0.24 percent, respectively.

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