RIYADH: The Saudi stock market started Tuesday’s session higher, spurred by a drop in commodity prices, helping ease concerns about accelerating inflation.
Saudi Arabia’s main index TASI edged up 0.3 percent at 12,136, while the parallel market Nomu traded flat at 21,282, as of 10:01 a.m. Saudi time.
The Saudi National Bank, the country’s biggest lender, saw its share price increase by 0.45 percent.
Al Rajhi, the Kingdom’s largest valued bank, gained 0.11 percent, while the Saudi British Bank increased 2.79 percent.
Saudi oil giant Aramco added 0.8 percent, while Rabigh Refining and Petrochemical Co. gained 0.24 percent.
BinDawood Holding Co. fell 0.12 percent, after it announced that CEO Ahmad Abdulrazzag BinDawood resigned.
United Electronics Co., or eXtra, climbed 1.69 percent, after it obtained approval from the Capital Market Authority to increase its capital by 33 percent.
East Pipes Integrated Co. for Industry rose 3.34 percent to lead the gainers, following the CMA’s approval to increase its capital to SR315 million ($84 million).
