RIYADH: Saudi Arabia’s main and parallel indexes, TASI and Nomu, were up 259.68 points and 583.28 points respectively following a tumultuous last week as investors continue to assess the severity of the new omicron variant’s impact.
Sunday’s top movers were resilient in terms of gains with Rabigh Refining and Petrochemical Co., Al Sagr Insurance, and The National Company for Glass Industries — Zoujaj all up by almost 10 percent.
Petro Rabigh’s price hike most likely resulted from reporting a net profit after Zakat and tax of SR1.588 billion ($422 million) for the first nine months in 2021, compared to a net loss after Zakat and tax of SR3.842 billion in the year prior, according to a bourse filing.
Al Sagr Insurance advanced by 10 percent after narrowing its net losses to SR69.2 million in the first 9 months of 2021, in contrast to SR80.9 million in 2020.
Among the highest gainers list were Sadr Logistics and Hail Cement Co. which also contributed to the overall improved performance of the Saudi stock market.
Sadr Logistics has been on the rise since last week reaching an all-time high of SR86.2.
The upsurge of Hail Cement Co.’s share price was attributed to its board of directors’ recommendation to distribute a cash dividend of 5 percent for nine months in 2021.
The lowest-performing stocks of the session included CHUBB Arabia Cooperative Insurance Co. and Allianz Saudi Fransi Cooperative Insurance Co., down by 2.17 and 1.7 percent respectively.