RIYADH: The Saudi main index opened lower on Monday, in line with falling oil prices triggered by concerns over the expected US interest rate rise.
Brent crude fell to $102.43 a barrel, while US West Texas Intermediate fell to $$93.87 a barrel, as of 10:03 a.m. Saudi time.
TASI edged down 0.18 percent at 11,954, while the parallel market, Nomu, started flat at 21,067 as of 10:07 a.m. Saudi time.
Saudi oil giant Aramco declined 0.12 percent, while Saudi National Bank, one of the Kingdom’s biggest lenders, shed 0.29 percent.
Saudi British Bank, which was voted the best bank in 2022, added 0.14 percent, while the Kingdom’s largest valued bank Al Rajhi fell 0.79 percent.
Saudi Automotive Services Co. rose 4.89 percent, leading gainers, while United Cooperative Assurance Co. dropped 8.01 percent, continuing its downward trend.
Saudi Ceramic Co. fell 2.03 percent, after it reported a 33 percent profit drop to SR89 million ($24 million) for the first half of 2022.
Saudi Paper Manufacturing Co. added 0.11 percent, following a 17 percent increase in profit during the first half of 2022.
