(MENAFN) Saudi shares closed their initial exchange session of July in the negative territory, growing on the market’s 11 percent drop last month as stockholders' hopefulness was reduced by the worries of interest rate hikes.
As of Sunday’s ending bell, TASI dropped 0.51 percent to stand at 11,464, whereas the similar market, Nomu, dropped 2.33 percent to 21,082.
This was caused by a 0.39 percent decrease in Saudi Aramco, the biggest player on the Saudi oil market, and a 2.55 percent fall in the Kingdom’s biggest worth bank Al Rajhi.
Saudi National Bank, one of the Kingdom’s largest lenders, gained 0.91 percent, after declaring SR4.92 billion (USD1.31 billion) in payments for the first 6 months of this year.
Wafrah for Industry and Development Co. dropped 6.82 percent to top the droppers, trailed by Al-Baha Investment and Development Co., which slipped 6.04 percent.
Oil costs ended Friday with US West Texas Intermediate crude at USD108.43 a barrel and Brent crude at USD111.63 a barrel.
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