RIYADH: Saudi Arabia’s stock exchange finished higher for the third straight session on Tuesday as investor sentiment boosted amid a wave of record highs for the Kingdom’s stocks.

Both the main and parallel indexes advanced.

At closing bell, TASI rose 1.5 percent to 11,844 points, and the parallel Nomu market was up 1.2 percent to 26,144 points.

TASI led the GCC, followed by Kuwait’s BKP which added 1 percent. The main indexes of Bahrain and Oman edged up slightly, while the Qatari index QSI was flat.

Dubai’s DFMGI and Abu Dhabi’s new FTSE ADX General Index registered losses amounting to 0.7 and 0.3 percent, respectively.

In Abu Dhabi, the FTSE ADX General Index has been launched to replace the ADX General Index, known as ADI, effective Jan. 10, 2022.

Elsewhere in the Middle East, the Egyptian index EGX30 was down 0.2 percent.

In the energy market, Brent crude rose to near $84 per barrel and US WTI crude oil reached $81.5 per barrel as of 8:37 a.m. Saudi time.

Stock news

Alahli Takaful Co. and Arabian Shield Cooperative Insurance have announced the effectiveness of their merger, after the conclusion of ATC’s creditor objection period with no objections

HSBC Saudi Arabia, the financial advisor of Jahez International Co.’s IPO, announced that no price stabilization has been implemented on the offer price as previously announced

The Saudi National Bank, or SNB, launched the sale of 5-year dollar-denominated bonds, namely Sukuk, at a par value of $200,000

Bank Al Jazira's board has appointed Tarek Othman AlKasabi as chairman and Abdulmajeed Ibrahim AlSultan as vice-chairman

Calendar

Jan. 12, 2022

·Al Yamamah Steel Co. will start distributing dividends at SR1 per share for the second half of 2021

·National Metal Manufacturing and Casting Co., known as Maadaniyah, will start compensating rights issue owners who did not exercise their subscription rights

Jan. 13, 2022

·Last day to subscribe to Allied Cooperative Insurance Group’s rights issue  

Jan. 17, 2022

·End of East Pipes Integrated Co.’s initial public offering book-building process