RIYADH: Saudi Arabia’s benchmark index opened the week lower following fluctuations in oil prices over the past week and higher inflation, dampening investor confidence.
TASI started the week 0.2 percent lower at 12,621, while the parallel Nomu started 0.19 percent higher at 21,574, as of 10:05 a.m. Saudi time.
In the energy market, Brent crude reached $96.72 a barrel last Friday, while US West Texas Intermediate traded at $90.77 a barrel.
Saudi Aramco lost 0.13 percent, despite announcing last Sunday that it achieved its highest quarterly profit since going public in 2019 with SR182 billion ($48.4 billion).
Saudi Automotive Services Co. added 0.53 percent, following a 57 percent increase in profits to SR38 million through the first half of 2022.
Maharah Human Resources Co. rose 0.30 percent, after acquiring a 40 percent stake in Saudi Medical Systems through its unit Growth Avenue Investment.
The Mediterranean and Gulf Insurance and Reinsurance Co., known as MEDGULF, lost 1.91 percent, after it turned into losses of SR131 million in the first half of 2022.
Saudia Dairy and Foodstuff Co. increased 1.6 percent, following a 48 percent profit surge in the second quarter of 2022 to SR56 million.
Saudi Arabian Amiantit Co. declined 0.48 percent, after it saw its half-year losses shrink by 83 percent to SR10 million.
Jabal Omar Development Co. dropped 1.76 percent, after its first-half losses widened by 316 percent to SR311 million.
Saudi Pharmaceutical Industries and Medical Appliances Corp. led the fallers, dropping 5.07 percent, after it swung to losses of SR21 million during the first half of 2022.
