TASI marginally up despite 70% hike in COVID-19 cases: Opening bell

TASI marginally up despite 70% hike in COVID-19 cases: Opening bell

RIYADH: Saudi Arabia's stock market resumed gains as Tuesday’s trading session kicked off amid global omicron worries. As of 10:19 a.m. Saudi time, the main index TASI was slightly up by 0.35 percent to 11,367 points and the Nomu parallel market added 1.43 percent to reach 26,401 points. Early morning gains came despite a recent surge in Saudi COVID-19 infections which amounted to 1,746 on Monday, up 70 percent from a day earlier, according to a report by the Saudi Health Ministry. In the banking sector, , the – SNB, and traded fractionally higher at SR143 ($38), SR66.4, and SR24.9, respectively. Shares of . for Development and Investment and Saudi Research and Media Group, , saw gains amounting to nearly 3 percent – the highest on the bourse. .’s stock rose 2.4 percent to SR43 upon its signature of two contracts worth SR292 million to supply steel towers for electricity transmission lines. Losses were minor when compared to morning wins, given the biggest faller, fell just 1.29 percent. Shares of were down for a fifth consecutive day, hitting SR82.5.