Aqila Alasaeed
RIYADH: Saudi stocks opened higher on Monday with investors buoyed by positive comments from ceasefire talks between Russia and Ukraine.
The main index, TASI, rose 0.35 percent to reach 12,920, while the parallel market, Nomu, traded flat at 24,795, as of 10:08 a.m Saudi time.
In the energy market, Brent crude gained $3.19 to $111.12 a barrel, while WTI crude was up $3.31 to $108.01 a barrel.
Advance Petrochemical Co. climbed 5.08 percent to lead the gainers, after the Saudi Exchange said the fluctuation limits for the company will be based on a SR68 ($18) share price.
Abdullah Al Othaim Markets Co. fell 1.72 percent to top the losers as Saudi Capital Market Authority approved the initial public offerings of the company and Retal Urban Development Co.
The Herfy Food Services Co. was the second gainer with a gain of 2.17 percent, following a 204 percent profit surge in 2021.
Saudi Industrial Services Co. rose 0.54 percent, after its board approved the acquisition of a 31.7 percent stake in Dubai-based investment firm Green Dome Investment Co.
The shares of Saudi Aramco, the largest player on the Saudi market, edged up 0.68 percent.
In the financial sector, Saudi Arabia's largest bank Al Rajhi and Alinma Bank remained flat.
