RIYADH: Saudi stocks closed the previous trading week lower in line with a global stock market turmoil caused by the launch of a full-scale Ukraine invasion by Russian troops.
At Thursday’s close, TASI and the parallel market Nomu both lost 1.8 percent to 12,297 and 24,942 points, respectively.
On the main market, shares in Saudi Aramco soared to the highest level since listing.
With a market cap of $2.24 trillion, the oil giant is close to catching the world’s most valuable company, Apple Inc., and has surpassed tech giant Microsoft.
In line with the Saudi index, all GCC bourses, including Abu Dhabi, Dubai, Qatar, Bahrain, Oman, and Kuwait, were down in response to the rising geopolitical tensions.
Elsewhere, the Egyptian blue-chip index EGX30 dipped 3.6 percent.
Oil prices pulled back from record highs on Friday as concerns over supplies eased after US sanctions…