RIYADH: Saudi Arabia’s main index rose in early trade on Thursday, extending gains from the previous session as investors brushed off fears of a global recession.
The Tadawul All-Share Index grew 1.22 percent to reach 11,306, while the parallel market Nomu started flat at 19,922, as of 10:08 a.m. Saudi time.
Saudi oil giant Aramco began with a 1.29 percent gain, while Rabigh Refining and Petrochemical Co. climbed 1.15 percent.
The Saudi National Bank, the Kingdom’s largest lender, increased by 1.46 percent, while Saudi British Bank rose 4.18 percent.
The Kingdom’s highest valued bank, Al Rajhi, went up 0.88 percent, while Alinma Bank gained 1.57 percent.
Saudi Basic Industries Corp. rose 0.34 percent, as it announced the resignation of its CEO Yousef Al-Benyan to serve as Education Minister, and appointed Abdulrahman Al-Fageeh as acting CEO.
Retal Urban Development Co. fell 0.14 percent, after it sold its 50 percent stake in a land plot in Al Khobar for SR113 million ($30 million).
Arriyadh Development Co. added 0.29 percent, after it declared a cash dividend of SR0.25 per share for the first half of 2022.
Ladun Investment Co. gained 0.78 percent, after it completed the process of acquiring raw lands in Riyadh.
