RIYADH: Saudi stocks failed to rebound again following continued fluctuation in oil prices, which caused inflation fears to spread among investors.
The main index, TASI, fell 0.74 percent ending the day at 11,427, while the parallel market, Nomu, dropped 2.10 percent to 20,248.
In energy trading, Brent crude settled at $113.77 a barrel and US West Texas Intermediate reached $107.99 a barrel, as of 3:23 p.m. Saudi time.
Dar Alarkan Real Estate Development Co. fell 100 percent to lead the fallers; Al-Omran Industrial Trading Co. increased 9.94 percent to lead the gainers.
Saudi Arabia Refineries Co. shed 0.11 percent, following the announcement that it had registered its subsidiary, Al-Sado Investment Co., with a capital of SR5 million ($1.3 million).
Saudi Aramco, the largest player on the Saudi oil market, ended Monday’s trading down 0.13 percent.
In the financial sector, the Kingdom’s largest valued bank Al Rajhi declined 0.47 percent, while Alinma Bank rose 0.15 percent.
Arab National Bank’s shares increased 0.16 percent, following its board’s proposal to pay SR750 million in dividends for the first half of 2022.
In the pharma sector, Aldawaa Medical Services Co. slipped 1.47 percent, while Nahdi Medical Co. gained 2.46 percent.
Among telecom stocks, stc slid 2.02 percent, while Zain KSA advanced 1.74 percent.
Middle East Healthcare Co. rose 0.46 percent, after it reported that the construction of its Saudi German hospital in Makkah has been completed.