Saudi shares end Tuesday’s session with decreases | MENAFN.COM

Friday, 12 August 2022 06:45 GMT

Saudi shares end Tuesday’s session with decreases


(MENAFN) Saudi shares ended down on Tuesday for the third time this week amid fears of unsteady oil costs and deliberating financial expansion.

The benchmark index, TASI, dropped 0.12 percent to 11,344, pressured down by a 7.37 percent fall in Methanol Chemicals Co. and a 4.6 percent decrease in Sahara International Petrochemical Co.

The similar market, Nomu, closed Tuesday’s session with an increase of 2.24 percent, amounting to 21,135 points.

Fawaz Abdulaziz Alhokair Co. fell 2.88 percent, and Saudi Basic Industries Corp. slipped 1.2 percent.

Saudi Aramco, the biggest player on the Saudi oil market, earned 0.39 percent, whereas chemicals maker Petro Rabigh jumped 1.29 percent.

In the banking area, the Saudi National Bank surged 0.76 percent, and Alinma Bank dropped 0.75 percent.

Saudi British Bank, which was chosen the best bank this year, dropped 0.24 percent of its stock rate.

In the energy area, West Texas Intermediate crude was exchanging at USD108.82 a barrel and Brent crude was exchanging at USD112.23 a barrel at 3:29 PM Saudi time.

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