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RIYADH: Saudi Arabia’s main stock index opened lower Sunday as the rebound in share prices paused on cautious investor sentiment.
As of 10:22 a.m. Saudi time, the main index — TASI — opened 0.70 percent lower at 12,183. The parallel market Nomu was down by 0.9 percent to reach 24,992.
Marketing firm Tihama Advertising and Public Relations Co. rose by 7.16 percent to top the gainers after announcing it received the Capital Market Authority’s approval to reduce its capital to SR50 million from SR175 million.
The share price of Saudi fitness chain operator Leejam Sports Co. jumped 1.70 percent as it announced it would distribute dividends of SR0.87 per share in the fourth quarter of 2021.
In the financial sector, Saudi Arabia's largest valued bank, Al Rajhi Bank, lost 0.53 percent. The Saudi Investment Bank, or SAIB, fell 0.59 percent following the appointment of a new audit committee chairman.
National Gas and Industrialization Co., or GASCO, fell by 0.57 percent as it announced that it has signed an agreement with National Housing Co. to provide gas distribution services.
Chemanol gained 1.36 percent after it announced it had reached a non-binding agreement with Global Co. for Downstream Industries for the supply of methanol and the exploration of petrochemical opportunities.
Shares in oil giant Aramco edged up by 0.40 percent.
In the energy market, Brent crude settled at $93.10 per barrel, whereas US WTI crude traded at $94.44.