RIYADH: Saudi stocks market started higher on Tuesday — and continued to rise until the end of the day as investors took comfort in corporate earnings reports.
The Saudi benchmark index, TASI, rose 0.27 percent to finish at 12,329, while the parallel market, Nomu, gained 0.57 percent to end at 22,199.
Electronics retailer eXtra climbed 2.76 percent, after its half-year profits advanced 24 percent to SR225 million ($60 million).
Saudi chemical giant SABIC rose 1.58 percent, following a hike in second-quarter profits to SR7.93 billion, beating analysts’ average estimate of SR5.9 billion.
City Cement Co. fell 0.09 percent, after reporting SR42 million in profits for the first half, a 64 percent decline from the same period in 2021.
Arabian Cement Co. rose 1.06 percent, despite a 14 percent drop in profits to SR87 million during the first half of 2022.
Retal Urban Development Co. lost 4.81 percent, despite a first-half profit increase of 10 percent to SR93.5 million.
Bawan Co. increased 0.14 percent, after posting a 12 percent profit increase to SR95 million for the first half of 2022.
Saudi Airlines Catering Co. slipped 3.24 percent, despite turning into profits of SR78.8 million during the first half of 2022, from SR47.5 million losses in the prior-year period.
Nahdi Medical Co. added 0.68 percent, following a 20 percent profit surge to SR506 million during the six-month period.
The Kingdom’s oil giant Saudi Aramco rose 1.27 percent, while the country's biggest lender Saudi National Bank gained 0.96 percent.