RIYADH: Saudi Arabia’s benchmark index extended its losses for the second early trading session of the week following a decline in oil prices.
TASI started 0.14 percent lower on Monday at 12,537, while the parallel Nomu started flat at 21,664, as of 10:07 a.m. Saudi time.
The price of oil fell slightly in the early morning hours of Monday, Brent crude declined to $95.26 a barrel, while US West Texas Intermediate traded at $89.31 a barrel, as of 10:04 a.m. Saudi time.
Oil giant Saudi Aramco started with a 1.02 percent decline, while Al Rajhi, the Kingdom’s largest valued bank, started 0.11 percent lower.
The Saudi National Bank, the country’s biggest lender, shed 0.14 percent, while Alinma Bank dropped 0.26 percent.
Allianz Saudi Fransi Cooperative Insurance Co. rose 1.52 percent, after its first-half net profit rose 13 percent to SR10 million ($3 million).
Alamar Foods Co. added 0.66 percent, after declaring SR1.69 per share dividends for the first half of 2022.
Arabian Pipes Co. fell 1.26 percent, following a 46 percent increase in losses for the half year to SR17.5 million.
State-owned Saudi Electricity Co. declined 2.64 percent, after its profit plummeted by 7 percent to SR7 billion in the first half of 2022.
