RIYADH: Saudi stocks settled higher on Thursday, following a 0.75 percent interest rate hike by the Gulf Cooperation Council's central banks on Wednesday. The rise was bolstered by banking stocks after posting strong earnings for the first half of 2022. The main index, TASI, was up 0.9 percent to 12,155, while the parallel Nomu market ended 0.6 percent higher at 20,952. Gulf
RIYADH: Saudi Arabia’s stock market extended gains on Wednesday on the back of strong earnings in the banking sector as well as rising oil prices. The main index TASI advanced 0.7 percent to 12,052. Similarly, the parallel Nomu market was up 0.2 percent to 20,823. TASI was supported by gains in some of its biggest banks, including the Kingdom’s largest lender Saudi National
RIYADH: Saudi stocks gained in the first trading session of the week, recovering slightly following steep declines due to fears over interest rate hikes and a potential recession. The main index, TASI, surged 1.8 percent to close at 11,513, while the parallel market, Nomu, shed 0.9 percent to 20,681. Most Gulf stock exchanges advanced in line with Saudi Arabia, with Qatar’s