RIYADH: The Saudi stock market rebounded to open marginally higher on the final trading session of 2021, with virus-related lockdowns and travel restrictions still a huge concern for investors.
As of 10:20 a.m. Saudi time, the TASI index added 0.47 percent to reach 11,252 points, while the parallel market Nomu went up by 0.75 percent to 26,148 points.
This came despite falls in the previous session as the Kingdom announced that wearing masks and following social distancing guidelines will be mandatory in all indoor and outdoor events and activities from 07:00 a.m. on Thursday, Dec. 30.
With over SR56 million worth of shares traded in the morning, Al Rajhi Bank rebounded after dragging the main index down in the prior session.
The hike in Alinma Bank’s share price came as its board recommended issuing dividends of SR795 million at SR0.4 per share for the second half of 2021.
Rising 7 percent to SR24.2, Allied Cooperative Insurance Group witnessed the highest gains following the approval to increase capital to SR291 million via a rights issue, where the fluctuation limits will be based on a share price of SR22.6 as announced today by the Saudi Exchange.
Sadr Logistics was the top decliner as it fell almost 10 percent to SR102, erasing its gains momentum from earlier this month where it hit an all-time closing high of SR138.