RIYADH: Saudi stocks ended the week’s final trading session on a high note as crude oil prices hold strong above $100 a barrel.
The Tadawul All Share Index climbed 1.19 percent to finish at 12,591, while the parallel Nomu market settled flat at 21,631.
Oil prices continued to skyrocket this week with Brent increasing to $101.83 a barrel, while US West Texas Intermediate reached $95.23 a barrel, as of 3:17 p.m. Saudi time.
Oil giant Saudi Aramco ended the session with a 0.51 percent gain, while Al Rajhi, the Kingdom’s largest valued bank, jumped 1.55 percent.
The Saudi National Bank, the country’s biggest lender, added 0.85 percent, while Alinma Bank gained 0.79 percent.
Kingdom Holding Co.’s stock price rose 1.87 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 0.19 percent, despite the company’s first half profits dropping by 6 percent to SR21 million.
PIF's digital security firm Elm increased 0.24 percent, following the contract signing with the Ministry of Interior for the Makkah Route Initiative worth SR57 million.
Raydan Food Co. declined 4.32 percent, after its first-half losses widened by 62 percent to SR22 million
Al-Andalus Property Co. rose by 1.69 percent. after declaring SR0.25 interim cash dividends in the first half of 2022.
Al Gassim Investment Holding Co. added 1.69 percent, despite its losses increasing by 147 percent to SR782,647 during the first half of 2022.
Al-Babtain Power and Telecommunication Co. added 0.52 percent, following a report of lower profits of SR20 million in the first half of 2022.
