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FinancialNews


  • 26-07-22

    TASI closes Monday’s session with declines

    (MENAFN) The Saudi benchmark index closed with declines on Monday, falling back after oil cost instability that sent financiers scrambling before a possible rate hike.

    As of the closing bell, TASI dropped 0.84 percent to stand at 11,874, whereas the similar market Nomu closed level at 21,038.

    This was driven by 0.26 decrease in Saudi oil giant Aramco, as well as a 2.13 percent decrease in Saudi British Bank, which was elected the best bank this year.

    Saudi National Bank, one of the Kingdom’s largest lenders, saw a fall of 1.29 percent, whereas the Kingdom’s biggest esteemed bank Al Rajhi declined 1.02 percent.

    Saudi Ceramic Co. decreased 3.79 percent, after a 33 percent fall in January-June profit to SR89 million (USD24 million).

    Saudi Paper Manufacturing Co. fell 1.85 percent, regardless of recording a 17 percent surge in profit throughout the January-June period of this year.

    United Cooperative Assurance Co. sustained its downfall trend, dropping 8.01 percent, whereas Dar Alarkan Real Estate Development Co. topped the earners, jumping 7.44 percent.

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