RIYADH: Saudi Arabia's stock market ended lower on Tuesday as inflation worries escalated amidst rising concern about the global economy following Beijing's COVID-19 warning.
The main index, TASI, fell 0.27 percent ending the day at 12,020, while the parallel market, Nomu, added 0.21 percent at 21,505.
Saudi Arabian Cooperative Insurance Co. topped the gainer's list with a 10 percent increase, followed by Al-Rajhi Company for Cooperative Insurance with a 9.96 percent increase.
Shares of Saudi Aramco, the largest player on the Saudi oil market, ended the day down 0.89 percent.
In the financial sector, the Kingdom’s largest valued bank Al Rajhi lost 1.21 percent, while the Saudi National Bank shed 0.74 percent.
Development Works Food Co. led the fallers list with a 10 percent drop, followed by Arab Sea Information System Co. with a 9.87 percent drop.
In the pharma sector, Aldawaa Medical Services Co. dropped 1.88 percent and Nahdi Medical Co. rose 0.13 percent.
Bawan Co. added 0.97 percent, following the appointment of Mohammad Al-Balawi as CEO.
Almarai Co. increased 1.16 percent, following the approval of SR252 million ($67.2 million) in investment plans for its entry into the seafood category.
In energy trading, Brent crude reached $123.42 a barrel and US West Texas Intermediate traded at $122.02 a barrel as of 3:29 p.m. Saudi time.
