RIYADH: Saudi Arabia’s benchmark index settled flat on Tuesday’s trading session, as investors scramble to assess the impact of declining energy prices and higher inflation on the index
The Tadawul All Share Index ended the session flat at 12,545, while the parallel market, Nomu, edged 0.34 percent lower to finish at 22,034.
In the energy market, Brent crude reached $95.55 a barrel, while US West Texas Intermediate declined to $90.14 a barrel, as of 3:24 p.m. Saudi time.
The country’s biggest lender Saudi National Bank increased 0.55 percent, while the Saudi British Bank decreased 0.35 percent.
Saudi Aramco lost 1.61 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 0.85 percent, after posting a 52 percent gain in profit during the first half of 2022, reaching SR152 million.
KEIR International fell 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 2.45 percent, after reporting a 73 percent decline in first-half profits to SR54 million.
Al-Etihad Cooperative Insurance Co. shed 1.45 percent after its profits dropped 93 percent to SR2 million in the first half.
Abo Moati for Bookstores Co. rose 0.68 percent, following a 125 percent profit surge to SR4.3 million for the second quarter of 2022.
The Saudi Industrial Development Co. edged down 1.23 percent, after its losses widened by 88 percent to SR11 million during the first half.
Al Kathiri Holding Co. declined 2.71 percent, after it turned into losses of SR5.5 million in the first half of 2022.