RIYADH: Saudi stocks started Monday’s session almost flat after the Saudi annual inflation rate increased to 2.7 percent in July, inciting uncertainty among investors.
TASI edged down 0.08 percent at 12,504, while the parallel market, Nomu, fell 0.16 percent at 22,005, as of 10:06 a.m. Saudi time.
Saudi Aramco shed 0.25 percent, despite achieving its highest quarterly profit since going public in 2019 with SR182 billion ($48.4 billion), a 90 percent jump over analysts' expectations.
Saudi Tadawul Group Holding Co. dropped 1.65 percent, following the announcement of a 23 percent decline in profits during the first half of the year to SR278 million.
Red Sea International Co. gained 4.96 percent to lead the gainers, after the real estate firm announced that its accumulated losses have been cut to zero, following a reduction in the company’s capital by SR298 million.
Saudi Printing and Packaging Co. climbed 2.45 percent, after the company narrowed its losses by 91.8 percent to SR2 million during the first half.
Basic Chemical Industries Co. lost 0.97 percent, despite achieving a 63 percent profit increase to SR46 million for the first half.
solutions by stc increased 0.43 percent, after its acquisition of Egypt’s Giza Systems has been approved by the Saudi competition authority.
Wafrah for Industry and Development Co. increased 1.86 percent, after the company swung to a profit of SR11 million during the first half of 2022.
Arabian Shield Cooperative Insurance Co. edged up 0.43 percent, despite a 30 percent profit decline to SR16 million for the first half.
The country's biggest lender Saudi National Bank declined 0.27 percent, while the Kingdom’s largest valued bank Al Rajhi fell 0.34 percent.