Saudi food chain Raydan cuts losses by 49% in first quarter

RIYADH: Saudi stocks ended higher on Sunday, despite investor concerns over risk sentiment caused by recession fears.

The main index, TASI, gained 1.27% to 12,689, while the parallel market, Nomu, rose 0.58% to 22,402.

Halwani Bros. Co. gained 8.07%, leading the gains; Saudi Industrial Export Co. fell 8.86%, leading the fallers.

Among the list of winners, Kingdom Holding Co. edged up 5.54%, while Bawan Co. climbed 7.35%.

In the financial sector, the largest bank in the Kingdom, Al Rajhi, increased by 2.34% and Alinma Bank by 1.71%.

Telecom giants stc and Mobily both rose 0.58% and 1.84% respectively.

Additionally, in the telecommunications sector, shares of Zain KSA rose 0.92%, after receiving approval from Zain Business Ltd to acquire 8,069 of its telecommunications tower sites.

In the pharmaceutical sector, Aldawaa Medical Services Co. rose 0.38%, while Nahdi Medical Co. climbed 2.55%.

Saudi Aramco, the largest player in the Saudi oil market, ended today’s trading up 1.60%.

Oil prices rose on Friday, with Brent leaving the week at $119.43 and US West Texas Intermediate at $115.07.

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