TASI ends in red as investors monitor the market: Closing bell

RIYADH: The Saudi main index ended the week’s first trading session in red as investors continued to watch the market in anticipation of earnings results.

TASI edged down 0.11 percent to 11,975, while Nomu rose 0.46 percent to 21,056.

Salama Cooperative Insurance Co. surged 9.97 percent, leading the gainers since the opening, while United Cooperative Assurance Co. slipped 9.92 percent, leading the fallers.

Saudi Investment Bank gained 2.15 percent, after announcing it will distribute cash dividends amounting to SR300 million ($80 million) for the first half of 2022.

BinDawood Holding Co. rose 0.83 percent, following its announcement that it has begun negotiations with France’s TF1 Group to acquire a majority stake in its subsidiary Ykone.

Saudi oil giant Aramco increased 0.13 percent, while Saudi National Bank, one of the Kingdom’s biggest lenders, ended flat.

Saudi British Bank, which was voted the best bank in 2022, increased 0.71 percent, while the Kingdom’s largest valued bank Al Rajhi added 0.67 percent.

In the pharma sector, Aldawaa Medical Services Co. shed 0.28 percent, while Nahdi Medical Co. rose 3.14 percent.

Among the biggest information technology companies, Elm Co. was up 0.07  percent, while Al Moammar Information Systems Co. was down 0.96 percent.

Energy prices fell on Friday due to weakened demand and geopolitical tensions, with Brent crude settling at $103.2 a barrel and US West Texas Intermediate at $94.7.