RIYADH: The Saudi main index rose on Wednesday following the increase in oil prices along with positive financial results from the banking sector that boosted investor sentiment.
TASI opened 0.36 percent higher to 12,007, while the parallel market, Nomu, shed 0.12 percent to 20,765 as of 10:05 a.m. Saudi time.
Saudi National Bank, the Kingdom’s biggest lender, climbed 2.02 percent, after reporting a 59 percent surge in first-half profit to SR9 billion ($2.4 billion).
Bank Albilad gained 1.02 percent following a 24 percent jump in profits for the first half, hitting SR1 billion.
Alinma Bank rose 1.60 percent, after reporting a 29 percent increase in first-half profits to SR1.7 billion.
Saudi British Bank, which was voted the best bank in 2022, opened flat, while the Kingdom’s largest valued bank Al Rajhi was up 0.34 percent.
Shares of Saudi Aramco, the largest player on the Saudi oil market, started the day up 0.26 percent.
Tanmiah Food Co. rose 2.58 percent, leading gainers, while Red Sea International Co. dropped 3.89 percent, leading the fallers.
Brent crude increased to $104.65 a barrel, while US West Texas Intermediate hit $95.52 a barrel, as of 9:59 a.m. Saudi time.
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