TASI starts slightly lower as investors watch the market: Opening bell

Saudi stocks started Tuesday slightly lower as investors kept an eye on the market in the face of high oil prices and inflation.

Saudi Arabia’s main index, TASI, started 0.16 percent lower at 11,537, while the parallel market, Nomu, opened almost flat at 20,708.

This was led by a 0.65 decrease in Saudi oil giant Aramco, and 0.87 percent decline in Saudi National Bank, one of the Kingdom’s biggest lenders,

Almasane Alkobra Mining Co. surged 7.28 percent, on news that it is seeking to raise capital by SR240 million ($64 million) through issuing bonus shares.

Almunajem Foods soared 10 percent, after reporting a profit surge of 225 percent in the first half of 2022.

Leading the fallers was Arabia Insurance Cooperative Co. with a 4.39 percent decline, followed by Anaam International Holding Group shedding 1.62 percent.

In energy trading, Brent crude settled at $106.90 a barrel and US West Texas Intermediate reached $103.33 a barrel.