RIYADH: Saudi Arabia’s stock exchange started the day almost flat on Thursday, as stocks of the oil-rich nation tracked a volatile trend in the energy market.
Oil rose in early trade but then slightly eased back, as worries over tight supply chains intensified amid ongoing geopolitical tensions.
Brent crude hovered near $120.93 per barrel, while US WTI crude oil reached $113.89 as of 8:00 a.m. Saudi time.
Both TASI, the main index, and the parallel market, Nomu, were flat at 12,942 and 24,468 points, respectively, at 10:10 a.m. Saudi time.
TASI was topped by gains amounting to 3.3 percent in Riyadh-based National Gas and Industrialization Co. after its annual profit soared 47 percent.
Holding the second-largest market cap globally, oil giant Aramco pushed the main index higher as it added 0.5 percent, which was capped by losses of 0.13 percent in Al Rajhi Bank and Alinma Bank.
PIF-owned digital security firm Elm Co. traded 0.8 percent higher as its board proposed dividends of SR233 million ($62 million) in its first post-listing payout.
Pharma chain operator Nahdi Medical Co. extended gains by 1 percent to SR160 on its third day trading on the Saudi stock exchange.
The insurance sector fell as several industry players, including Gulf Union Alahlia, widened losses due to a rise in incurred claims during 2021.
