Key Points
- Tadawul All Share Index rose 0.41%, led by gains in the Energy, Utilities, and Industrial Investment sectors.
- The best performers were Red Sea Housing Services Company, Al Baha Investment and Development Company SJSC, and Company for Cooperative Insurance.
- Crude oil rose slightly, while Brent oil and gold futures experienced mixed movements.
- Currency markets remained stable with minimal changes in EUR/SAR and USD/SAR rates. The US Dollar Index Futures gained 0.10%, signaling dollar strength.
Saudi Arabia’s stock market closed higher on Sunday, driven by strong performances in the Energy & Utilities, Insurance, and Industrial Investment sectors. The Tadawul All Share Index rose by 0.41% or 49.15 to 12,129.62, reflecting widespread gains across various stocks.
One of the day’s best performers was the Red Sea Housing Services Company (TADAWUL:4230), which surged 9.88%, or 5.60, to close at 62.30. This marks the company’s highest stock price in three years. Al Baha Investment and Development Company SJSC (TADAWUL:4130) also saw a 6.25% increase, ending the session at 0.17. The Company for Cooperative Insurance (TADAWUL:8010) also performed well, gaining 4.90% or 7.00 to reach 150.00.
However, not all stocks followed the upward trend. Jamjoom Pharmaceuticals Factory Company SJSC (TADAWUL:4015) experienced the biggest decline, falling by 4.55%, or 9.20, to settle at 193.00. Arabian Shield Cooperative Insurance Co (TADAWUL:8070) dropped by 3.74%, or 0.76, to close at 19.56, while Rasan Information Technology (TADAWUL:8313) declined 3.13%, or 2.00, to end the session at 61.80.
Regarding market breadth, rising stocks outnumbered decliners on the Saudi Exchange by 163 to 122, with 21 shares remaining unchanged.
On the commodities front, crude oil prices showed mixed results. Crude oil for November delivery increased by 0.10% to settle at $70.33 per barrel, while Brent oil for December delivery fell by 0.21%, closing at $73.69 per barrel. Meanwhile, gold saw significant gains, with the December Gold Futures contract rising 1.24% or 32.50 to trade at $2,647.10 per troy ounce.
The currency market’s EUR/SAR exchange rate remained unchanged, fluctuating from 0.01% to 4.19. Similarly, the USD/SAR exchange rate stayed flat at 3.75. The US Dollar Index Futures rose by 0.10% to 100.42, reflecting continued strength in the U.S. dollar.
