RIYADH: Saudi stocks closed lower Monday as battles raged between Russia and Ukraine with no progress in ceasefire talks, driving up oil prices and shaking the global economy.
TASI slipped 0.34 percent to end the day at 12,831, and the parallel market, Nomu, shed 0.5 percent to 24,665.
Stock exchanges in Abu Dhabi, Oman, and Kuwait edged down in line with global stock markets.
Elsewhere in the GCC, indexes of Dubai, Qatar, and Bahrain recorded fractional gains amounting to nearly 0.4 percent.
Egypt’s stock exchange saw a massive jump of 4.5 percent after the central bank raised key interest rates by 100 basis points for the first time in five years.
In the energy market, oil prices extended gains on Tuesday, with Brent crude approaching $118 a barrel, and US WTI trading at $114.3.
Saudi Tadawul Group, operator of the Saudi exchange, said it intends to unveil enhancements to develop the post trade services infrastructure to be implemented on Apr. 3.
As the wave of IPOs continues, the Capital Market Authority approved the offerings of Aqaseem Factory for Chemicals and Plastics Co. and Amwaj International Co. on the parallel market.
Stock news
- Maharah Human Resources Co. signed an initial agreement to acquire 40 percent in Saudi Medical Systems Co.
- Dallah Healthcare Co. reported a 103 percent jump in 2021 profit, reaching SR275 million ($73 million)
- Banan Real Estate Co.’s board proposed a half-year cash dividend of SR0.3 per share after reporting a 43 percent jump in 2021 profits
Calendar
March 22, 2022
- Nahdi Medical Co. to start trading on Saudi main index TASI
