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Thursday, June 30, 2022

Saudi stocks rise following a boost to investor sentiment: Opening bell

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RIYADH: Saudi Arabia’s stock market closed the day higher for the second day in a row with energy prices declining slightly. Brent crude fell 0.26 percent to reach $119.41 per barrel, while US WTI crude fell 0.27 percent to $118.55 per barrel as of 3:47 p.m. Saudi time. The main index, TASI, gained 1.31 percent to 12,821.96 and the parallel market, Nomu, advanced 0.02 percent to 22,551. National Agricultural Development Co. climbed 6.47 percent, leading the gainers; the National Co. for Glass Industries slipped 3.11 percent, leading the market fallers. Other fallers included Saudi Cement Co. which lost 2.63 percent and United Cooperative Assurance Co. which declined 2.59 percent. Among the gainers on the list, Bupa Arabia for Cooperative Insurance Co. surged 5.10 percent, and Al-Rajhi Co. for Cooperative Insurance rose 4.94 percent. In the pharma sector, Aldawaa Medical Services Co. gained 0.26 percent and Nahdi Medical Co. shed 0.12 percent. In the financial sector, the Kingdom’s largest valued bank Al Rajhi gained 1.04 percent, while Alinma Bank declined 0.13 percent. Shares of telecom giant stc closed flat, while Zain KSA gained 0.15 percent. Saudi Aramco, the largest player on the Saudi oil market, closed today’s trading up 0.86 percent.

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