RIYADH: With tensions between Russia and Ukraine destabilizing the markets, the Saudi stocks opened lower on Tuesday, reversing a two-day upward trend.
As of 10:09 a.m. Saudi time, the main index, TASI, opened 0.20 percent lower to 12,782, while the parallel market Nomu edged down 0.04 percent to 24,618.
In the energy market, oil prices are rallying as supply chain concerns intensify.
Brent crude climbed to $126.23 per barrel, while US WTI crude reached $121.55 per barrel.
The leading gainer in the index was Aseer Trading Tourism and Manufacturing Co., which gained 2.78 percent.
Mediterranean and Gulf Insurance and Reinsurance Co. fell 2.81 percent to lead the fallers, after it announced losses of SR135 million ($36 million) in 2021.
ACWA POWER Co. rose 0.55 percent, as it was awarded a contract worth SR1.7 billion for the development of Ar Rass Solar PV project in Al Qassim.
United Electronics Co., eXtra, edged up 1.52 percent, after reporting a dividend of SR2.5 per share for the second half of 2021.
In the financial sector, Al Rajhi Bank edged down 0.26 percent, while Alinma Bank declined 1.06 percent.
The shares of Saudi Aramco, the largest player on the Saudi oil market, edged down 0.11 percent.
