RIYADH: Saudi stocks opened lower on the first day of trading in April as oil prices continue to fluctuate, creating fears among investors.
As of Sunday 10:37 a.m. Saudi time, the main index, TASI, was down 0.18 percent maintaining its 13,000-point level, while parallel market Nomu shed 1.92 percent at 24,530.
Oil prices fell at the close on Friday, with Brent crude reaching $104.39 per barrel, and US benchmark West Texas Intermediate falling to $99.27.
Al Alujain Holding Corp. led the gainers with an increase of 9.89 percent, while Al Jouf Cement Co. led the fallers with a drop of 5.61 percent.
Also among the fallers, Yamama Cement Co. fell 1.23 percent, after signing a $426 billion financing agreement with SNB, while Al Jouf Cement Co. fell 5.42 percent.
Among the financial sector companies, Alinma Bank edged down 0.26 percent, while the Kingdom’s largest valued bank, Al Rajhi, was up 0.12 percent.
Pharma giants Nahdi Medical Co. and Aldawaa Medical Services Co. both rose 0.26 percent and 0.67 percent respectively.
Saudi Aramco, the largest player on the Saudi oil market, opened today’s trading session 1.04 percent lower.
The shares of Jabal Omar Development Company jumped 2.84 percent, after entering into a binding agreement on April 2 with Alinma fund’s unitholders.
