RIYADH: Saudi Arabia’s main stock index TASI ended Tuesday’s session in positive territory as gains in the energy, financial, and insurance sectors pushed the index higher.
TASI recorded gains at 0.3 percent, reaching 12,109 points, and the parallel Nomu market closed flat at 25,551 points.
Most major GCC indexes also recorded gains on Tuesday.
Dubai’s DFMGI, Abu Dhabi’s FTSE ADX general index, and the Qatari QSI index all edged up between 0.1 and 0.3 percent.
Bourses of Bahrain, Oman, and Kuwait were down, as well as the Egyptian EGX30 index which closed 0.6 lower.
In energy trading, oil prices rebounded as Brent crude oil crossed $88 per barrel, and US benchmark WTI crude oil reached $85.3 per barrel as of 9:05 a.m. Saudi time.
Stock news
- The Saudi Automotive Services Co. has acquired 80 percent of gas station operator NAFT Services Limited Co. for $1.1 billion ($293 million)
- Advanced Petrochemical Co.’s board recommended increasing capital to SR2.6 billion, or by 20 percent, through issuing bonus shares. They also recommended buying back 1.5 million shares to allocate in an employee incentives program
- Saudi oil giant Aramco has awarded a SR268 million contract to Arabian Pipes Co. to provide steel pipes
- Dallah Healthcare Co. has signed a memorandum of understanding with KUN Investment Holding Co. for the purchase of 19 percent of International Medical Center Co. through a share swap
Calendar
Jan. 27, 2022
End of Gas Arabian Services’ IPO book-building
End of Scientific and Medical Equipment House’s IPO book-building
Jan. 28, 2022
End of Elm Co.’s IPO book-building
