RIYADH: The Saudi main index rose on Tuesday with oil prices back on the rise while investors awaited more earnings results.
TASI, opened 0.43 percent higher to 11,924, while the parallel market, Nomu, opened flat at 21,038 as of 10:07 a.m. Saudi time.
Saudi oil giant Aramco increased 0.39 percent, while Saudi National Bank, one of the Kingdom’s biggest lenders, added 0.73 percent.
Saudi British Bank, which was voted the best bank in 2022, gained 1.33 percent, while the Kingdom’s largest valued bank Al Rajhi gained 0.34 percent.
Development Works Food Co. rose 10 percent, leading gainers, while United Cooperative Assurance Co. dropped 10 percent, continuing its downward trend.
BinDawood Holding Co. started flat, following its acquisition of 62 percent of International Applications Trading Co.
Saudi health provider Tibbiyah also started flat, after it formed a joint venture with European Unilabs to offer diagnostic imaging services.
Yamama Cement Co. added 1.97 percent, after it reported a profit decline of 9 percent to SR120 million ($32 million) in the first half of 2022.
Saudi petrochemicals maker Sipchem, climbed 5.21 percent, following an 89 percent jump in profits to SR2.34 billion in the first half of 2022.
Brent crude increased to $106.71 a barrel, while US West Texas Intermediate hit $98.09 a barrel, as of 10:06 a.m. Saudi time.
