RIYADH: Saudi Arabia’s stock market opened mixed on Monday, with the main TASI index holding above the 12,000 level amid positive market cues.
As of 10:23 a.m. Saudi time, the main index TASI traded at 12,118 points after six-day gains momentum, and the parallel Nomu market edged down to 26,258 points.
Tadawul group, owner of the Saudi Exchange, led the gainers as it added 5.8 percent to reach SR160 ($45) – its highest value since listing.
This was supported by advances in the Kingdom’s utility provider Acwa Power Co., Al Rajhi Bank, and oil giant Aramco, all up in the range of 0.4 to 0.6 percent.
Acwa Power re-appointed Mohammad Abdullah Abunayyan as chairman of the board of directors for another three years.
Shares of Saudi franchise retailer Fawaz Abdulaziz Alhokair Co. surged 4.6 percent.
Earlier, the retailer submitted a filing to the Capital Market Authority for capital decrease, followed by capital increase through rights issue of SR1 billion.
Saudi Pharmaceutical Industries and Medical Appliances Corp., or SPIMACO, was up 1.6 percent after it sealed a deal with Swiss-based Vifor Pharma to localize the production of an injection.
In energy trading, Brent crude crossed $86.5 per barrel and US WTI crude oil reached $84.5 per barrel as of 10:24 a.m. Saudi time.
