RIYADH: Saudi stocks gained some ground on Wednesday amid easing inflation worries while investors kept an eye on oil prices.
The main index, TASI, gained 0.48 percent to reach 11,727, while the parallel market, Nomu, added 1.81 percent to 20,728.
This was led by a 0.90 percent increase in the Saudi oil giant Aramco and a 2.86 percent leap in one of the Kingdom’s biggest lenders, Saudi National Bank.
Retal Urban Development Co. added 0.66 percent, following the acquisition of SR339 million ($90 million) in residential land in the Sedra Masterplan Community.
In the telecom sector, stc shares climbed 0.61 percent, while Zain KSA shares shed 2.02 percent.
Saudi Advanced Industries Co. was also among the gainers, posting 9.94 percent gain.
Al Moammar Information Systems Co. edged down 1.37 percent, following an agreement with US-based Cloudera to host and distribute its services in the Kingdom.
SABIC Agri-Nutrients Co. fell 0.98 percent, following the announcement that it will pay dividends of SR4 a share in the first half of the year.
Saudia Dairy and Foodstuff Co. dropped 1.66 percent, following shareholders' approval of SR0.50 per share for dividends in 2021.
Dar Alarkan Real Estate Development Co. decreased 3.94 percent, following the appointment of Yousuf Al Shelash as chairman and Majed Abdul Rahman Al Qasim as vice chairman.
In energy trading, Brent crude settled at $119.61 a barrel and US West Texas Intermediate reached $113.42 a barrel, as of 3:22 p.m. Saudi time.