RIYADH: Saudi Arabia’s stock market closed lower on Wednesday falling below 12,000 points as investors fretted about the global economy.
Saudi Arabia’s main index, TASI, fell 0.35 percent to reach 11,978, while the parallel market, Nomu, fell 0.95 percent to 21,301.
Wafrah for Industry and Development Co. topped the list with a 9.97 percent gain, after winning shareholder approval for a 200 percent capital increase of SR231.5 million ($62 million).
Shares of Saudi Aramco, the largest player on the Saudi oil market, ended the day down 1.54 percent.
In the financial sector, the Kingdom’s largest valued bank Al Rajhi slipped 0.67 percent, while Alinma Bank fell 0.70 percent.
In the pharma sector, Aldawaa Medical Services Co. declined 2.47 percent, while Nahdi Medical Co. rose 0.52 percent.
In the telecom sector, stc gained 1.57 percent, while Zain KSA edged down 0.66 percent.
Saudi Industrial Export Co. topped the fallers’ list with a 9.99 percent decline, followed by Arab Sea Information System Co. with 9.95 percent.
Arabian Centres Co. rose 4.26 percent, after signing agreements with Riyad Capital Co. to establish two closed funds valued at approximately SR6.2 billion to develop projects in Riyadh and Jeddah.
Saudi Automotive Services Co. dropped 0.29 percent, after shareholders approved the distribution of SR0.25 per share in dividends for 2021.
In energy trading, Brent crude reached $120.84 a barrel and US West Texas Intermediate traded at $118.44 a barrel as of 3:22 p.m. Saudi time.
