RIYADH: Saudi Arabia’s main index recovered some strength in its trading session Thursday after closing below the 12000-point level on Wednesday due to the continuing decline in oil prices exacerbated by recession worries.
TASI started the week’s final trading session 0.45 percent higher at 11,917, while the parallel market Nomu traded flat at 20,540, as of 10:08 a.m. Saudi time.
Saudi oil giant Aramco increased 0.27 percent, while Rabigh Refining and Petrochemical Co. gained 0.63 percent.
The Saudi National Bank, the country’s biggest lender, saw its share price rise by 0.44 percent, while Saudi British Bank fell 0.25 percent.
Al Rajhi, the Kingdom’s largest valued bank, improved 0.7 percent, while Alinma Bank advanced 0.42 percent.
Saudi telecom operator Etihad Etisalat Co. is up 0.41 percent, following an order for its former executives to pay SR1.23 billion ($328 million) for committing misleading actions.
Zain KSA rose 1.94 percent, after two no-objection letters were issued by the Communications and Information Technology Commission for the purchase of tower sites by the Public Investment Fund, Prince Saud bin Fahad, and Sultan Holding.
In energy trading, Brent crude futures fell to $88.76 a barrel, while US West Texas Intermediate traded at $82.75 a barrel, as of 10:06 a.m. Saudi time.
