RIYADH: Saudi stocks reversed losses to close Monday’s session higher, as investor sentiment was boosted by positive earnings from listed companies.
TASI, the main index, edged up 0.23 percent to 12,543, while the parallel market, Nomu, gained 0.3 percent to 22,110.
The Saudi index outperformed peers in the Gulf, with most markets finishing lower on Tuesday.
Qatar, Abu Dhabi, Kuwait, and Bahrain all recorded losses between 0.1 and 0.7 percent, while Dubai and Oman added 0.1 and 0.4 percent, respectively.
Elsewhere in the Middle East, the Egyptian blue-chip index dropped 0.7 percent.
Oil prices continued to drop on Tuesday, with brent crude losing 1 percent to $94.06 a barrel and US West Texas Intermediate down to $88.63 a barrel by 9:08 a.m. Saudi time.
Stock news
Dallah Healthcare has posted solid profit growth of 52 percent to SR152 million ($40 million) for the first half of 2022, supported by an increase in patient occupancy rates
Al-Etihad Cooperative Insurance Co. saw its profits drop 93 percent to SR2 million in the first half of 2022
Qassim Cement Co. reported a 73 percent decline in first-half profits to SR54 million
Saudi Industrial Development Co.’s losses widened by 88 percent to SR11 million during the first half of 2022
Abo Moati for Bookstores Co. reported a 125 percent surge in quarterly profit to SR4.3 million
Al Kathiri Holding Co. turned into losses of SR5.5 million in the first half of 2022
Arabian Food and Dairy Factories Co. signed a contract with Nana Co. to expand the former’s distribution network and facilitate product delivery to customers
Aljouf Mineral Water Bottling Co.’s half-year profit rose 8 percent to SR2.8 million
Walaa Cooperative Insurance Co. published the shareholders’ circular, the offer document, and the timeline for its merger with SABB Takaful Co.
KEIR International partnered with US-based Quadratics Development to deploy its eco-friendly building system and technology in Saudi Arabia
Calendar
August 17, 2022
Saudi Networkers Services Co. will start trading its shares on Nomu
