RIYADH: Saudi Arabia's benchmark index started Tuesday’s trading session flat as more earnings reports came out; investors tried to assess the impact of rising inflation and weaker oil prices on the index.
As of 10:06 a.m. Saudi time, the Tadawul All Share Index and the parallel market Nomu opened at 12,542 and 22,111, respectively.
In the energy market, Brent crude fell to $94.20 a barrel, while US West Texas Intermediate declined to $88.82 a barrel, as of 10:12 a.m. Saudi time.
The country's biggest lender Saudi National Bank increased 0.28 percent, while the Kingdom’s largest valued bank Al Rajhi added 0.11 percent.
Saudi Aramco lost 0.87 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.
Dallah Healthcare Co. edged up 0.17 percent, after posting a 52 percent gain in profit during the first half of 2022, reaching SR152 million.
KEIR International rose 1.92 percent, after it partnered with US-based Quadratics Development to deploy its eco-friendly building system and technology in Saudi Arabia
Qassim Cement Co. dropped 2.08 percent, after reporting a 73 percent decline in first-half profits to SR54 million.
Al-Etihad Cooperative Insurance Co. shed 2.76 percent after its profits dropped 93 percent to SR2 million in the first half.
Abo Moati for Bookstores Co rose 1.63 percent, following a 125 percent profit surge to SR4.3 million for the second quarter of 2022.
Saudi Industrial Development Co. edged down 1.60 percent, after its losses widened by 88 percent to SR11 million during the first half.
Al Kathiri Holding Co. declined 1.35 percent, after it turned into losses of SR5.5 million in the first half of 2022.