RIYADH: Saudi stocks closed higher on Tuesday, bucking the downward trend in most Middle Eastern and global markets.
TASI rebounded from three days of losses to advance 0.5 percent to 12,300, while the parallel market Nomu lost 0.5 percent to 22,251.
Stock exchanges of Abu Dhabi, Kuwait, Dubai, and Egypt dropped 2.5, 2.2, 1.5, and 1 percent, respectively.
While those of Qatar, Bahrain, and Oman edged down between 0.2 and 0.4 percent.
In energy trading, oil prices recorded gains on Wednesday as tight supply outweighed concerns over a potential recession and China’s COVID-19 curbs.
Brent crude added 0.6 percent to $114.28 a barrel and US West Texas Intermediate gained nearly 0.7 percent to $110.53 a barrel as of 9:11 a.m. Saudi time.
Stock news
Unitholders of Jadwa REIT Saudi Fund will receive quarterly dividends of SR37 million ($9.9 million) in total
Saudi Indian Co. for Cooperative Insurance, known as Wafa Insurance, has been delisted from the Saudi stock exchange
Retal Urban Development Co. announced its offering price range between SR112 and SR120 per share as it seeks to join Saudi Arabia’s initial public offering boom this year
Al Sagr Cooperative Insurance Co. has been suspended from trading on the Saudi exchange due to its failure to announce Q1 financial results in the specified time frame
Jabal Omar Development Co. saw its losses narrow by 47 percent to SR182 million in the first quarter, due to improved post-pandemic business operations
Al…