RIYADH: Stocks in Saudi Arabia fell Tuesday at the closing bell after mixed earnings results from major firms and rising inflation were digested by investors. The main index, TASI, fell 2.21 percent to 13,509, while the parallel market, Nomu, dropped 1.62 percent to 23,094. Saudi Arabia’s oil giant closed 0.22 percent higher as its shares soared to a market cap of $2.463 trillion, becoming the world’s most valuable company. In the financial sector, the Saudi British Bank, or SABB, slumped 7.13 percent leading the fallers, while Alinma and Al Rajhi banks shed 2.39 percent and 4.09 percent, respectively. Telecom stocks were also down, with telecom giant stc down 3.86 percent and Zain KSA down 0.57 percent. The Saudi National Shipping Co., also known as Bahri, lost 0.99 percent, following its announcement to issue sukuk worth SR3.9 billion ($1.04 billion). Digital security firm Elm Co. edged down 0.68 percent after its shareholders approved dividends of SR3 per share for 2021. SABIC Agri-Nutrients Co. advanced 1.12 percent, after reporting a 494 percent increase in profit to SR2.5 billion in the first quarter. Saudi Industrial Investment Group slid 3.03 percent, after reporting a 23 percent fall in profits for the first quarter. The shares of Gulf Union Alahlia Cooperative Insurance Co. rose 5.58 percent to lead the gainers. The price of crude oil continues to ease down, with Brent crude reaching $105.38 per barrel and WTI crude reaching $102.69 per barrel, at 3:27 a.m. Saudi time.