RIYADH: Saudi stocks started the final session of the week higher on Thursday, tracking the recovery in oil prices which have passed $100 a barrel.
The main index, TASI, began 0.42 percent higher at 12,496, while the parallel Nomu market opened flat at 21,621, as of 10:08 a.m. Saudi time.
In energy trading, Brent crude increased to $101.44 a barrel, while US West Texas Intermediate reached $95.02 a barrel, as of 10:00 a.m. Saudi time.
Oil giant Saudi Aramco started the session with a 0.38 percent gain, while Al Rajhi, the Kingdom’s largest valued bank, traded 0.55 percent lower.
The Saudi National Bank, the country’s biggest lender, added 0.28 percent, while Alinma Bank gained 0.66 percent.
Kingdom Holding Co.’s stock jumped 2.96 percent, following a massive profit surge of 1,162 percent to SR6.35 billion ($1.7 billion) for the first half of 2022.
Al Moammar Information Systems Co. increased 1.93 percent, after the company’s first-half profits dropped by 6 percent to SR21 million.
PIF's digital security firm Elm climbed 1.22 percent, following the contract signing with the Ministry of Interior for the Makkah Route Initiative worth SR57 million.
Raydan Food Co. declined 3.02 percent, after its first-half losses widened by 62 percent to SR22 million
Alandalus property Co. rose by 2.05 percent. after declaring SR0.25 interim cash dividends in the first half of 2022.
Al Gassim Investment Holding Co. fell 0.66 percent, after its losses increased by 147 percent to SR782,647 during the first half of 2022.
Al-Babtain Power and Telecommunication Co. dropped 1.2 percent, following a report of lower profits of SR20 million in the first half of 2022.
