Luxury hotel brand JW Marriott debuts in Saudi Arabia with Riyadh Capital

RIYADH: Saudi shares opened Wednesday’s session in the red as investors waited for a possible stabilization in oil prices.

The main index, TASI, fell 0.19% to 11,648, while the parallel market, Nomu, added 1.02% to 20,565 at 10:09 a.m. KST.

Abdullah Saad Mohammed Abo Moati for Bookstores Co. led the winners with a gain of 3.93%, after posting a profit of SR15 million ($4 million) for its fiscal year ending March 31, 2022, a increase of 183.3%.

Tihama Advertising and Public Relations Co. led the fallers, down 2.67%.

Saudi Aramco, the biggest player in the Saudi oil market, started trading today down 0.77%.

In the financial sector, the Kingdom’s largest valued bank, Al Rajhi, fell 0.59%, while Bank Aljazira fell 0.09%.

Al Moammar Information Systems Co. fell slightly by 0.50%, following an agreement with the American company Cloudera to host and distribute its services in the Kingdom.

SABIC Agri-Nutrients Co. gained 0.84%, following the announcement that it will pay dividends of SR4 per share in the first half of the year.

Saudia Dairy and Foodstuff Co. fell 0.47% following shareholder approval of SR0.50 per share for dividends in 2021.

Dar Alarkan Real Estate Development Co. fell 1.25%, following the appointment of Yousuf Al Shelash as chairman and Majed Abdul Rahman Al Qasim as vice chairman.

Retal Urban Development Co. lost 1.81%, following the acquisition of SR339 million of residential land in the master plan community of Sedra.

In energy trading, Brent settled at $117.10 a barrel and US West Texas Intermediate reached $111.20 a barrel, as of 10:06 a.m. KST.

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