You should know these things before trading on Tuesday on Tadawul

Know These Things Before Trading

RIYADH: Saudi and Gulf stocks fell in tandem in a week plagued by inflation worries, impending interest rate hikes, and economic warning signs.

The Tadawul All Share Index fell 1.09% to end Monday at 11,446, while the parallel market Nomu fell 1.73% to 20,230.

Qatar's main index fell around 1.7%, followed by Abu Dhabi's index, which fell 1%, and Dubai's main index, which fell 0. 4%.

Outside the Gulf, the Egyptian index rebounded 0.9% after falling for four consecutive days.

In energy trading, Brent crude edged higher on Tuesday morning to $92.21 a barrel, while US West Texas Intermediate traded at $85.76 a barrel as of 9:10 a.m. Saudi.

Stock Market News

Insurers Gulf Union Al Ahlia Cooperative Insurance Co. and Al Sagr Cooperative Insurance Co. have signed a memorandum of understanding to assess a possible merger between the two companies.

Alandalus Property Co. has completed 89% of the Al-Jawhara Al-Kobra project and is expected to start operating in the first quarter of 2023.

Retal Urban Development Co. and the National Housing Co. have signed an agreement for the construction of 759 housing units in Riyadh worth an estimated SR864 million (230 million).

A development agreement has been signed in Riyadh between Sumou Real Estate Co. and National Housing Co. for the construction of SR403 million worth of residential units.

The Saudi Azm Telecom and Information Technology Co. announced the award of an SR 14.3 million project with the General Authority for Small and Medium Enterprises.

Academy of Learning Co. established an investment and development company with a capital of SR100,000.

The Saudi pharmaceutical company SPIMACO has renewed its agreement with MSD to license and market pharmaceutical preparations.