RIYADH: The main index extended its morning losses to close Wednesday lower as investors are conflicted about rising oil prices.
The main index, TASI, shed 1.20 percent to 12,766, while the parallel market, Nomu, added 0.48 percent to 22,879.
The energy market saw Brent crude traded at $117.12 a barrel and US West Texas Intermediate crude reached $115.99 a barrel, as of 3:26 p.m. Saudi time.
Saudi Arabian Mining Co., known as Ma’aden, fell 4.92 percent, leading the market fallers since the opening bell, despite its shareholder approval of a 100 percent capital increase.
The financial sector was among the worst performers, with Bank Albilad slumping 3.40 percent, Alinma Bank losing 2.60 percent, and Al Rajhi falling 2.33 percent.
The Amana Cooperative Insurance Co. soared 9.98 percent, pacing the market gainers for a second straight day.
Among the gainers are Saudi Real Estate Co. and Saudi Pharmaceutical Industries and Medical Appliances Corp., both having gained 7.19 percent and 5.45 percent, respectively.
Group Five Pipe Saudi Co. gained 5.08 percent, after securing a deal worth SR145 million ($39 million) from Saudi Aramco to supply steel pipes.
Saudi Aramco, the largest player on the Saudi oil market, closed today’s trading down 0.95 percent.
Al Hassan Ghazi Ibrahim Shaker Co. appreciated 0.40 percent, after it signed an agreement with Italy's Bompani to establish a joint venture.
Etihad Atheeb Telecommunication Co. rose 6.46 percent, as losses narrowed to SR37.4 million in the fiscal year ended March 31, 2022.
In the Telecom sector, stc increased 0.39 percent, while Zain KSA edged down 0.30 percent.
Both pharma giants Aldawaa Medical Services Co. and Nahdi Medical Co. fell by 0.13 percent and 1.11 percent, respectively.
