Saudi stocks drop as energy prices move erratically
Monday, 25 April 2022
RIYADH, Apr 24 (Arab News): Saudi stocks opened lower during the first trading session of the week following investors' confusion over price movements in the energy market.
Both the main index, TASI, and the parallel market, Nomu, opened 0.58 percent lower at 13,456 and 23,693 points, respectively, at 10:09 a.m. Saudi time.
Oil prices closed Friday lower, with Brent crude reaching 106.65 per barrel and WTI crude reaching 102.07 per barrel.
Elm Co. edged up 2.50 percent to lead the gainers, after reporting 48 percent growth in profit for the first quarter.