All you need to know before Wednesday trading on the Saudi bourse

All you need to know before Wednesday trading on the Saudi bourse

RIYADH: Saudi stocks surged on Tuesday in line with higher oil prices and positive investor sentiment. TASI rose 1.2 percent to 13,646 with its highest-valued bank Al Rajhi Bank hitting a record high of SR172 ($46). The parallel market Nomu was also up 0.9 percent to 24,268. Despite a strong debut by Dubai Electricity and Water Authority, Dubai’s bourse dropped 0.5 percent in Tuesday’s session. Stock exchanges in Qatar and Abu Dhabi shed 2.6 and 0.6 percent, respectively, while the Bahraini and Omani indexes inched up. Kuwait’s bourse was almost flat. Apart from the GCC, Egypt’s EGX30 slightly recovered from its multiday losing streak as it added 1.6 percent. In energy trading, Brent crude reached $105.24 per barrel on Wednesday while US benchmark West Texas Intermediate traded at $101.02 as of 9:05 a.m. Saudi time. Arab National Bank’s shareholders backed the board’s proposal to pay SR0.45 per share as cash dividends for the second half of 2021 The Saudi Exchange has delisted shares in National Petrochemical Co. following the acquisition deal with Saudi Industrial Investment Group Naseej International Trading Co. submitted a capital reduction filing to the Capital Market Authority, seeking to cut capital from SR212 million to SR109 million