RIYADH: Saudi stocks opened higher in the first trading session of the week following positive earnings reports.
The main index, TASI, added 0.70 percent to reach 12,515, while the parallel market, Nomu, rose 0.76 percent at 22,678, as of 10:09 a.m. Saudi time.
Saudi Industrial Export Co. gained 4.83 percent to lead the gainers, while Malath Cooperative Insurance Co. fell 4.17 percent to lead the underperformers.
Lazurde Co. for Jewelry came in second in the gainer list, up 4.32 percent, after seeing its first quarter profit rise by 34 percent.
Saudi Home Loans Co. advanced 0.50 percent, following an increase in the company's first-quarter profit of 9.8 percent.
The National Agricultural Development Co., known as NADEC, gained 1.34 percent after reporting a 137 percent increase in profit for the first quarter.
Al-Baha Investment and Development Co. raised 0.60 percent after proposing a 25 percent capital reduction.
In the financial sector, the Kingdom’s largest valued bank Al Rajhi edged up 0.11 percent, while Alinma Bank fell 0.28 percent.
In the pharma sector, both companies advanced. Aldawaa Medical Services Co. gained 0.26 percent, and Nahdi Medical Co. rose 0.13 percent.
Oil prices settled slightly higher on Friday. Brent crude rose to $112.55 a barrel and US West Texas Intermediate crude reached $110.28 a barrel.
