RIYADH: Saudi Arabia’s stock market wrapped its third straight day in green on Tuesday, despite ongoing concerns over inflation and a potential global economic slowdown.
TASI, as the main index is known, was up 1.8 percent to 11,680, and the parallel Nomu market advanced by 0.5 percent to close at 20,816.
Gulf markets rebounded in line with Saudi Arabia, with Abu Dhabi, Dubai, Oman, Qatar, and Kuwait all adding between 0.3 and 0.9 percent.
However, the Bahraini stock exchange was flat.
Outside the Gulf, the Egyptian index EGX30 extended gains as it surged 1.9 percent.
In energy trading, Brent crude slightly slipped to $106.14 a barrel by 9:20 a.m. Saudi time on Wednesday and US benchmark West Texas Intermediate reached $103 a barrel.
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