Here’s what you need to know before Thursday trading on TASI

RIYADH: Saudi stocks recorded gains on Wednesday, with oil prices back on the rise and most global markets ending in the green despite ongoing geopolitical woes.

TASI, the main index, extended gains by 0.5 percent to 12,944 points, and the parallel market, Nomu, rose 0.2 percent to 24,478.

All fellow GCC bourses were up, but the Omani index bucked the trend as it dropped 0.9 percent.

Stock exchanges in Bahrain, Qatar, and Abu Dhabi led the session’s gains, up 1 percent or higher.

Apart from the Gulf, Egypt’s index EGX30 closed 0.7 percent higher in its seventh consecutive session in the green.

In the energy market, Brent crude rose to $120.93 per barrel, while WTI crude oil reached $113.89 per barrel at 08:00 a.m. Saudi time.

Stock news

• National Shipping Co., known as Bahri, awarded a contract to Riyadh-headquartered Haif Co. as it sets up a SR413 million ($110 million) grain project
• National Gas and Industrialization Co. saw its annual profits jump 47 percent to SR202 million
• Profits of Saudi insurer Aljazira Takaful Taawuni Co. fell by 45 percent to SR21 million during 2021
• Saudi-listed insurance firm Gulf Union Alahlia widened losses before Zakat by 254 percent to SR139 million in 2021 due to an increase in claims incurred
• Al Sagr Cooperative Insurance recorded a decline of 31 percent in net profit before Zakat to SR72.7 million in 2021
• Saudi Ground Services narrowed losses by 44 percent to SR254 million in 2021 as revenues surged 28 percent
• PIF-owned digital security business Elm Co.’s board proposed full-year cash dividends of SR3 per share in its first post-listing payout
• Raoom Trading Co.’s board recommended a capital increase of 25 percent to SR62.5 million to enhance the company’s solvency and strengthen its capital
• Shareholders of Raoom Trading are set to receive SR1.25 per share in dividends for the second half of 2021
• The board of Tanmiah Food Co. recommended a cash dividend payout of SR0.51 per share for 2021
• Amlak International for Real Estate Finance Co.’s board proposed cash dividends of SR0.85 per share for 2021