RIYADH: Dragged down by falling oil prices, Saudi Arabia’s main index declined 0.6 percent to reach 12,216 on Sunday. The parallel market, Nomu, finished 0.28 percent lower at 21,776.
This was led by a 1.13 percent decline in oil giant Saudi Aramco, and 1.49 percent in the Kingdom’s largest valued bank, Al Rajhi.
Elm Co. sank 2.86 percent, despite announcing a 59 percent surge in profit for the first half, in addition to a contract award worth SR57 million ($15.17 million) with the Ministry of Interior.
Leejam Sports Co. continued to lead the fallers since the opening, down 9.98 percent, following the announcement that it will distribute SR0.37 per share in cash dividends for the second quarter of 2022.
The Red Sea International surged 9 percent, despite seeing its first-half losses widen to SR67 million, following a revenue drop of 24 percent
Dr. Sulaiman Al Habib Medical Services Group decreased 0.46 percent, despite posting a 22 percent profit rise to SR789 million for the first half of 2022.
The Saudi British Bank, which was voted the best bank in 2022, declined 0.95 percent, while Alinma Bank decreased 0.27 percent.
The price of oil fell last week to its lowest level since February. Brent crude closed Friday at $94.92 a barrel and US West Texas Intermediate at $89.01 a barrel.