RIYADH: Saudi stocks fell sharply on Sunday amid cautious investor sentiment, even as oil prices climbed to record highs.
The main index TASI led the losses in the GCC as it dropped 1.95 percent to 12,029, and Saudi parallel market Nomu lost 1.65 percent to reach 24,801.
The Qatari index QSI dropped by 1.3 percent, followed by indexes of Oman and Kuwait, down 0.1 and 0.6 percent, respectively.
Apart from the Gulf, the Egyptian index EGX30 extended losses by 1.2 percent.
In energy trading, oil prices rose for another day on Monday where Brent crude reached $95.6 a barrel, and US benchmark WTI hit $94.5 a barrel as of 8:06 a.m. Saudi time.
Stock news
- Saudi Arabia’s Al Rajhi Bank posted SR14.7 billion ($4 billion) net profit in 2021, up 39 percent year-on-year
- The Saudi Exchange will be off on Tuesday, Feb. 22, on the occasion of the Saudi Founding Day
- Saudi Arabia’s utility provider ACWA Power has secured a $470 million senior loan facility for its subsidiary RAWEC
- Tanmiah Food Co. has reported an 81 percent profit decline during 2021
- Saudi insurer AXA Cooperative Insurance reported a net profit before Zakat of SR166 million for 2021
- Saudi Arabian Amiantit Co. has submitted a filing to the Capital Market Authority, seeking to reduce capital by SR221 million
Calendar
Feb. 14, 2022
East Pipes Integrated Co. will list on the main TASI index
Arabian Centres Co. is to distribute cash dividends at SR0.75 per share for the first half of the fiscal year ending Sept. 30, 2021
Feb. 15, 2022
Tibbiyah, formally known as Arabian International Healthcare Holding Co., will start IPO individual investors’ subscription
Feb. 17, 2022
End of Tibbiyah’s IPO individual investors’ subscription
End of Al Dawaa Medical Services Co. IPO book-building process
