RIYADH: Saudi Arabia’s stock market opened flat on the first trading day of 2022 as investors buckle up for the new year amid lingering omicron fears and a surge in cases.
As of 10:23 a.m. Saudi time, the TASI index remained flat at 11,283 points while the parallel market Nomu edged up by 0.66 percent to 26,146 points.
The National Co. for Glass Industries, known as Zoujaj, led the gainers, up 3.5 percent to SR45.6 ($12.2).
Shares of Al Rajhi Bank and ACWA Power weighed the index up as they rose to SR142 and SR85.7, respectively. A bourse filing on Sunday revealed that the former increased the limits of a bank facility provided to SEDCO Capital REIT by SR450 million.
Recently enlisted Saudi Tadawul Group saw almost SR10 million worth of shares traded in the morning as it went up to SR127.
Petro Rabigh witnessed gains amounting to 1.93 percent to reach SR21.1. This came as the company received SR2.84 billion as early repayment of a loan provided to Rabigh Arabian Water and Electricity Co., known as RAWEC.
Sadr Logistics was down 10 percent to SR92.2, despite exiting the prior year 184 percent higher.
Fawaz Alhokair’s share price dropped to a one-year low of SR15.4. The fall follows the Kingdom's decision to reimpose COVID-19 restrictions from Dec. 30.
Allied Cooperative Insurance Group, ACIG, saw marginal losses as it fell to SR23.3. Earlier today, the group announced the start date for its rights issue subscription as Jan. 3, amid a capital raise to SR291 million.
