RIYADH: Saudi Arabia’s main index continued to fall during a week plagued by inflation worries, looming interest rate hikes, and economic warning signs.
The Tadawul All Share Index declined 1.09 percent to end Monday at 11,446, while the parallel market Nomu tumbled 1.73 percent at 20,230.
Saudi oil giant Aramco shed 0.69 percent, while the Saudi National Bank, the Kingdom’s largest lender, slipped 2.51 percent.
Al Rajhi Bank decreased 1.28 percent, after it obtained the Saudi Central Bank's approval to complete the process of increasing its stake in Al Rajhi Co. for Cooperative Insurance to 35 percent.
Jazan Energy and Development Co. edged down 2.21 percent, after announcing the appointment of Mohammed Al-Resheid as CEO, effective on Nov. 1, 2022.
East Pipes Integrated Co. for Industry fell 0.44 percent, after inviting its shareholders to vote to increase its capital by 50 percent to SR315 million ($84 million).
Abdulmohsen Alhokair Group for Tourism and Development gained 1.52 percent, after it received the CMA approval to reduce its capital from SR650 million to SR315 million.