RIYADH: Saudi Arabian stocks traded in green territory for the second consecutive day, even as investors’ worries over the spread of omicron heightened.
As of 10:16 a.m. Saudi time, the main index TASI edged up by 0.5 percent to 11,616 points, whereas the parallel market Nomu opened slightly lower at 25,768.
Gains were boosted by the Kingdom’s Al Rajhi Bank which added 1.3 percent, reaching SR145 ($38.6) — its highest value in over a month.
This was buoyed by a 1.3 percent increase in Saudi Investment Bank, SAIB's, share price.
This followed the approval of SAIB’s request to increase capital to SR10 billion through a rights issue by the Capital Market Authority.
The highest gainer in morning trading was Ataa Educational Co. as it saw wins amounting to nearly 7 percent.
Shares of Amana Insurance and Saudi Enaya Insurance fell 5 and 1.5 percent, respectively, after shareholders of the latter rejected the terms of a potential merger between the two companies.
Rabigh Refining and Petrochemical Co. was down 2.14 percent.
Earlier, Petro Rabigh, as it’s known, filed a submission to the Capital Market Authority aiming to decrease capital by SR1.21 billion and then increase capital by SR7.95 billion via a rights issue.
In energy trading, Brent crude rose to near $82 per barrel, while US WTI crude oil reached $79.1 per barrel.
