https://arab.news/nm5d2
RIYADH: Saudi Arabia’s main index struggled to regain momentum at Monday’s closing bell. Despite ending in green, it remained at one of its lowest levels since January.
This was in response to aggressive interest rate hikes around the globe, causing investors to be alarmed about the economy.
At Monday’s close, the Tadawul All Share Index added 0.55 percent to 11,361, while the parallel market, Nomu, rose 1.45 percent to 21,042.
Saudi Enaya Cooperative Insurance Co. soared 10 percent, leading the market gainers; Arab Sea Information System Co. plunged 9.99 percent, leading the fallers.
Al Hassan Ghazi Ibrahim Shaker Co. fell 2.55 percent, following the signing of an agreement to purchase 40 percent of Cashew Payments Holding Ltd.
In the financial sector, the Kingdom’s largest valued bank Al Rajhi edged up 1.09 percent, while Alinma Bank increased 0.46 percent.
Saudi Aramco, the largest player on the Saudi oil market, ended Monday’s trading down 0.14 percent.
The Saudi Electricity Co. climbed 3.12 percent, following the appointment of Khalid Hamad Algnoon as CEO.
The Saudi Airlines Catering Co. fell 0.79 percent, following the announcement that its accumulated losses have decreased to 19.3 percent of capital.
Both telecom giants stc and Zain KSA declined 0.10 percent and 1.93 percent, respectively.
The energy market saw Brent crude traded at $113.30 a barrel and US West Texas Intermediate crude reached $109.98 a barrel, as of 3:23 p.m. Saudi time.