RIYADH: Saudi stocks opened flat on Wednesday as oil prices and economic uncertainty weighed on the market.
As of 10:07 a.m., both TASI and the parallel market, Nomu, started the day flat at 13,198 and 24,204 points, respectively.
The price of crude oil stayed high early Wednesday morning as Brent crude oil reached $106.91 per barrel, and US benchmark WTI crude oil reached $101.98 per barrel at 10:13 a.m. Saudi time.
Almasane Alkobra Mining Co., also known as Amak, led the gainer, up 7.62 percent, following the announcement of its initial public offering results.
The stock of Dallah Healthcare Co. recorded a 1.75 percent fall, leading the list of decliners.
Among the financial sectors, Alinma Bank edged down 0.37 percent, while Al Rajhi Bank fell 0.86 percent.
Saudi Aramco, the largest player on the Saudi oil market, opened today's trading session 0.12 percent lower.
The shares of Saudi pharma giants Aldawaa Medical Services Co. and Nahdi Medical Co. rose 0.35 percent and 0.62 percent, respectively.
Sadr Logistics Co. edged down 0.30 percent, following an announcement that it will not distribute cash dividends to shareholders in 2021.
