RIYADH: Saudi stocks began the morning session on a positive note on Wednesday, buoyed by higher oil prices.
The main index, TASI, started 0.40 percent higher at 11,808, while the parallel market, Nomu, rose 0.11 percent at 20,839 as of 10:07 a.m. Saudi time.
In energy trading, Brent crude hit $106.14 a barrel and US West Texas Intermediate reached $102.82 a barrel, as of 10:04 a.m. Saudi time.
Almunajem Foods Co. gained 10 percent, leading gainers since Tuesday, following its announcement of a 225 percent increase in profit in the first half of the year.
Academy of Learning Co. gained 3.45 percent, after declaring a dividend of SR1.5 ($0.4) per share for the half-years of 2022, 2023, and 2024.
Saudi oil giant Aramco declined 0.39 percent, while Saudi National Bank, one of the Kingdom’s biggest lenders, rose 0.87 percent.
Saudi British Bank, which was voted the best bank in 2022, increased 0.60 percent, while the Kingdom’s largest valued bank Al Rajhi added 1.30 percent.
In the pharma sector, Aldawaa Medical Services Co. edged up 0.14 percent, while Nahdi Medical Co. increased 0.57 percent.
Among the biggest IT companies, Elm Co. was up 0.49 percent, while Al Moammar Information Systems Co. was up 0.11 percent.
Leading the fallers was United Cooperative Assurance Co. with a 8.50 percent decline, followed by Wafrah for Industry and Development Co. dropping 8.42 percent.
