TASI down 0.15% following 4 days of gains: Closing bell

Thu, 2022-02-17 16:09

RIYADH: The Saudi stock market closed lower this week, dragged down by the energy market.

Saudi Arabia’s main index, TASI, closed 0.15 percent lower at 12,477 points.

Nomu, the parallel market, fell 0.23 percent to 25,228 points.

In the energy market, the price of US WTI crude dipped to $91.76 per barrel while Brent crude settled at $93.13 per barrel.

Saudi oil giant Aramco’s shares ended today’s session flat.

Elm Co. emerged as the top gainer, with an increase of 18.75 percent.

This was after it soared 30 percent yesterday and even higher during earlier trading today, suggesting some investors took profits since the stock debuted on TASI on Feb. 16.

Among the fallers, SABIC Agri-Nutrients Co. edged down 5.42 percent.

Saudi Ceramic Co. edged up 1.16 percent, as its 2021 profit tripled to SR233 million ($62 million).

The Saudi Steel Pipe Company dropped 0.37 percent, despite turning a profit of SR900,000 in 2021.

Anaam Holding Group  fell by 2.17 percent after signing a deal to purchase office buildings in Jeddah at cost of SR325 million.

Among the financial sectors, Alinma Bank climbed 0.16 percent, while Al Rajhi Bank dropped by 0.50 percent.


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