Saudi Arabia Stocks Decline as Energy & Utilities Sectors Weigh

Saudi Arabia Stocks Reach New Highs as Agriculture & Food Sectors Lead Gains

Key Points:

  • Saudi Arabia stocks declined, with the losses primarily in the Energy & Utilities sectors. The Tadawul All Share index declined by 1.62%.
  • Saudia Dairy and Foodstuff Co., Al-Jouf Agriculture Development Co., and East Pipes Integrated Company for Industry were among the top performers.
  • Thimar Development Holding Co., Tanmiah Food Company SCJSC, and Walaa Cooperative Insurance Company SJSC were among the worst performers,
  • 176 declined, 108 advanced, and 18 remained unchanged. East Pipes Integrated Company for Industry reached all-time highs, surging by 5.55%.

Saudi Arabian stocks closed lower on Sunday, with the losses primarily driven by declines in the Energy & Utilities, Insurance, and Media & Publishing sectors. At the close in Saudi Arabia, the Tadawul All Share index experienced a notable decline of 0.55% or 67.36 to 12,217.05, reaching a new 3-month low.

Among the top performers on the Tadawul All Share were Saudia Dairy and Foodstuff Co. (TADAWUL:2270), which witnessed a significant increase of 9.97% or 35.00 points, closing at 386.20. Additionally, Al-Jouf Agriculture Development Co (TADAWUL:6070) added 9.94% or 5.20 points, settling at 57.50, while East Pipes Integrated Company for Industry (TADAWUL:1321) rose by 5.55% or 9.00 points, reaching 171.20 in late trade.

Conversely, Thimar Development Holding Co (TADAWUL:4160) emerged as one of the worst performers, experiencing a decline of 9.94% or 1.56 points, concluding at 14.14. Following suit, Tanmiah Food Company SCJSC (TADAWUL:2281) fell by 9.93% or 14.20 points, reaching 128.80, while Walaa Cooperative Insurance Company SJSC (TADAWUL:8060) witnessed a decrease of 9.91% or 3.25 points, closing at 29.55.

On the Saudi Arabia Stock Exchange, falling stocks outnumbered advancing ones, with 176 declining, 108 advancing, and 18 remaining unchanged. East Pipes Integrated Company for Industry (TADAWUL:1321) reached all-time highs, surging by 5.55%.

In commodities trading, Crude oil for June delivery declined by 1.34% or 1.06, trading at $78.20 a barrel. Brent oil for July delivery also fell by 1.31% or 1.10, reaching $82.78 a barrel. Meanwhile, the June Gold Futures contract rose by 1.14% or 26.60, trading at $2,366.90 a troy ounce.

In the currency market, the Euro to Saudi Riyal (EUR/SAR) pair remained unchanged at 4.04, while the United States Dollar to Saudi Riyal (USD/SAR) pair also remained unchanged at 3.75. The US Dollar Index Futures increased by 0.07% to 105.18.

TechGolly editorial team led by Al Mahmud Al Mamun. He worked as an Editor-in-Chief at a world-leading professional research Magazine. Rasel Hossain and Enamul Kabir are supporting as Managing Editor. Our team is intercorporate with technologists, researchers, and technology writers. We have substantial knowledge and background in Information Technology (IT), Artificial Intelligence (AI), and Embedded Technology.

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