RIYADH: Saudi stocks ended almost flat in the last trading session of the week on persistent concerns over rising interest rates and US President Joe Biden’s plan to lower fuel costs that sent oil prices plummeting in the Gulf.
The main index, TASI, fell 0.08 percent to reach 11,310, while the parallel market, Nomu, added 0.38 percent to 20,728.
In the energy market, Brent crude traded at $111.65 a barrel and while US West Texas Intermediate crude reached $105.97 a barrel, as of 3:31 p.m. Saudi time.
Saudi Aramco, the largest player in the Saudi oil market, finished Thursday’s trading flat.
In the financial sector, the Kingdom’s largest valued bank Al Rajhi increased 0.97 percent, while Alinma Bank fell 0.46 percent
Also in the banking sector, Saudi British Bank edged up 1.18 percent, while The Saudi National Bank shed 0.31 percent
Saudi Fisheries Co.. climbed 10 percent to lead the gainers, followed by Tihama Advertising and Public Relations Co., which added 9.95 percent.
Al Moammar Information Systems Co. slid 5.33 percent, following its shareholders’ approval to increase its capital by 20 percent to SR300 million ($80 million).
The National Medical Care Co. led the laggards with a 6.34 percent decline, followed by Saudi Pharmaceutical Industries and Medical Appliances Corp. with a 5.64 percent fall.
In the pharma sector, Aldawaa Medical Services Co. rose 1.08 percent, while Nahdi Medical Co. gained 2.82 percent.
The shares of telecom giants stc increased 0.94 percent, while Zain KSA added 0.56 percent.
Saudi Arabia Refineries Co. added 0.62 percent, following the signing of two non-binding agreements for renewable energy with the UK-based Christof Global Impact.
