RIYADH: Saudi stocks opened lower in the first trading session of the week as major market players fell.
The main index, TASI, declined 1.90 percent to reach 11,600, while the parallel market, Nomu, shed 0.23 percent to 21,454, as of 10:09 a.m. Saudi time.
Saudia Dairy and Foodstuff Co. gained 0.73 percent, leading the market gainers; Saudi Industrial Development Co. fell 9.93 percent, leading the laggards.
Arabian Contracting Services Co. edged up 0.10 percent, following the signing of an agreement to establish a joint venture between the company and National Housing Co.
Leejam Sports Co. dropped 0.65 percent, following its board's approval to establish an investment unit in Riyadh to establish joint ventures and acquire stakes in existing companies.
Saudi Basic Industries Corp. edged down 2.33 percent, after it announced its board’s decision to pay SR6.75 billion ($1.80 billion) dividends to 3 billion eligible shares for the first half of 2022.
In the financial sector, the Kingdom’s largest valued bank Al Rajhi declined 3.13 percent, while Alinma Bank lost 4.05 percent.
Telecom giants stc and Zain KSA were both down by 1.38 percent and 1.82 percent respectively.
Saudi Aramco, the largest player on the Saudi oil market, opened today’s trading down 1.56 percent.
As of Friday, the energy market saw Brent crude settle at $113.12 a barrel and US West Texas Intermediate crude reached $109.56 a barrel.
