Key Points
- Saudi Arabia Tadawul All Share Index fell 0.11%, reaching a three-month low.
- Saudi Darb Investment Co led the gains, rising 8.33%, while AL-BABTAIN POWER & TELECOM CO added 7.08%.
- Saudi Industrial Investment Group hit a three-year low, declining 3.96%.
- Oil prices rose, with Brent crude reaching $70.44 per barrel. Gold futures edged higher to $2,923.95 per ounce.
Saudi Arabia’s stock market closed lower on Wednesday. Declines in the Energy & Utilities, Media & Publishing, and Agriculture & Food sectors pushed the Tadawul All Share Index down by 0.11% or 13.03 to 11,704.93, marking a new three-month low.
Among the top performers of the session was Saudi Darb Investment Co (TADAWUL:4130), which surged 8.33% to close at 0.39. AL-BABTAIN POWER & TELECOM CO (TADAWUL:2320) also posted strong gains, rising 7.08% to end at 41.60. Additionally, ARTEX Industrial Investment Co (TADAWUL:2340) climbed 6.54% to finish at 14.00.
However, several stocks faced significant losses. Saudi Industrial Investment Group (TADAWUL:2250) fell 3.96% to 15.02, hitting a three-year low. Savola Group (TADAWUL:2050) declined 3.54% to 31.35, while International Company for Water and Power Projects (ACWA Power) (TADAWUL:2082) dropped 3.27% to 331.20.
Despite the overall market decline, advancing stocks outpaced decliners, with 200 stocks gaining, 108 declining, and 29 remaining unchanged.
In commodities trading, crude oil prices edged higher. Crude oil for April delivery increased 1.42% to $67.19 per barrel, while Brent oil for May delivery rose 1.27% to $70.44 per barrel. Meanwhile, April Gold Futures gained 0.10%, trading at $2,923.95 per troy ounce.
The EUR/SAR exchange rate fell 0.20% to 4.08 in the currency market, while the USD/SAR remained unchanged at 3.75. The U.S. Dollar Index Futures increased 0.30% to 103.58, reflecting a strengthening dollar.
