TASI ends in red as oil price drop drags down shares: Closing bell

RIYADH: The Saudi stock market ended Tuesday’s session on a downward note, with oil prices tumbling following a steep rise.

The Tadawul All Share Index dipped 0.6 percent at 12,455, while the parallel market, Nomu, advanced 0.39 percent at 21,595.

Oil giant Saudi Aramco ended the session with a 0.78 percent decline, while Methanol Chemicals Co. dropped 1.41 percent.

In the financial sector, Al Rajhi, the Kingdom’s largest valued bank, fell 0.55 percent, while the Saudi National Bank, the country’s biggest lender, lost 0.71 percent.

The share price of Alinma Bank increased 0.26 percent, while the Saudi British Bank sank 0.37 percent.

In the pharmaceutical sector, Nahdi Medical Co. ended flat at SR193.4, while Aldawaa Medical Services Co. decreased 0.39 percent.

Saudi healthcare provider Tibbiyah gained 1.08 percent, as it completed the acquisition of a 51 percent stake in Innovative Care Co. for SR214 million ($57 million).

Among the Kingdom’s information technology firms, Elm Co. rose 1.86 percent, while Al Moammar Information Systems Co. shed 0.77 percent.