RIYADH: Saudi stocks saw a second day of gains early on Monday as oil prices eased in the first hour of trading.
Brent crude fell 1.08 percent to settle at $109.30 a barrel, and WTI crude fell 1.41 percent to settle at $109.98 a barrel, as of 10:09 a.m. Saudi time.
The Saudi main stock index, TASI, increased 0.38 percent to reach 13,199, while the parallel market, Nomu, gained 0.05 percent to 22,856, as of 10:08 a.m. Saudi time.
Rabigh Refining and Petrochemical Co. led the fallers, down 3.23 percent; Wafrah for Industry and Development Co. climbed 3.58 percent to lead the gainers.
Shares of Saudi insurers declined following poor first-quarter earnings.
AXA Cooperative Insurance Co. fell 2.77 percent, Al-Etihad shed 2.33 percent, and Tawuinya lost 1.19 percent.
Saudi Azm rose 2.37 percent, after it was approved to establish an office specialized in software development in Poland with SR500,000 capital. ($133,333)
Taiba Investments Co. edged up 1.28 percent, after reporting it turned into profit of SR20 million in the first quarter, supported by post-pandemic recovery.
The financial sector continued to rebound, with Al Rajhi Bank up 0.58 percent and Alinma Bank up 0.80 percent.
Shares of Saudi oil giant Aramco rose 0.12 percent, following its report yesterday that its first-quarter profit rose 82 percent.