https://arab.news/ms58g
RIYADH: Saudi Arabia’s main index fell for the third consecutive day, weighed down by a decline in Saudi National Bank, a dominant player in the Saudi stock market.
The Tadawul All Share Index fell 0.76 percent to end at 11,709, while the parallel market Nomu gained 0.68 percent to finish at 19,849.
Saudi National Bank, the Kingdom’s largest lender, shed 6.27 percent, after it announced investing up to SR5.7 billion ($1.52 billion) in Credit Suisse to achieve around 10 percent shareholding.
Saudi oil giant Aramco ended the session 1.14 percent lower, while Rabigh Refining and Petrochemical Co. decreased 2.61 percent.
The Kingdom’s most valuable bank, Al Rajhi, increased by 0.58 percent, after posting a 19 percent rise in profit to SR13 billion in the first nine months of 2022.
The Saudi Investment Bank, or SAIB, declined 0.78 percent after it saw its profit rise 49 percent to SR1.2 billion during the first nine months of the year.
Saudi Automotive Services Co. gained 0.16 percent, after it recorded a 73 percent profit increase to SR61 million in the first nine months of 2022.
Saudi Vitrified Clay Pipes Co. dropped 1.89 percent, after its net losses increased by 243 percent to SR10 million during the first nine months of 2022.
Etihad Atheeb Telecommunication Co. gained 9.89 percent to lead the gainers, following the signing of SR202 million worth of contracts with education and government entities.
Al Sagr Cooperative Insurance Co.’s share prices declined 9.96 percent to lead the fallers.