Saudi index adds 0.2% on rallying oil prices

Saudi Arabia’s main index started off the week on a high note, gaining 0.2 percent on Sunday as petrochemicals giant Saudi Basic Industries Corporation also climbed 0.2 percent after oil prices rallied on Friday.

The total value of shares changing hands reached SAR 7 billion. 

Jabal Omar climbed almost 6 percent to SAR 77.46 with a volume nearing 5.8 million shares to maintain its record highs.

Arabia Insurance gained most, closing at SAR 22.40 with a jump of 9 percent. The stock was fueled by an insurance coverage contract with Aljomaih, with estimated premiums of about SAR 85 million.

On the down note, Zain Saudi shed over 5 percent to end trading at SAR 11.78. Ma’aden— which is involved in the mining sector— and Dallah Healthcare Holding dipped nearly 2 percent.