Key Points:
- Saudi Arabia stocks gained on Sunday’s close, driven by the Retail, Telecoms & IT, and Energy & Utilities sectors. The Tadawul All Share index rose by 0.66%.
- The top performers were Saudi Real Estate Co., Alkhaleej Training & Education Co., and Arabian Contracting Services Company CJSC.
- Sinad Holding Co, ADES Holding Company SJSC, and Arabian Drilling Co emerged as the session’s worst performers.
- Crude oil prices slightly increased, while gold futures rose amid heightened demand for safe-haven assets.
Saudi Arabia’s stock market witnessed gains on Sunday’s close, with notable increases in the Retail, Telecoms & IT, and Energy & Utilities sectors driving shares higher. The Tadawul All Share index rose by 0.66% by the market close.
Among the session’s top performers on the Tadawul All Share were Saudi Real Estate Co. (TADAWUL:4020), which surged by 7.28%, Alkhaleej Training & Education Co (TADAWUL:4290), which gained 6.67%, and Arabian Contracting Services Company CJSC (TADAWUL:4071), which rose by 5.99%. These companies contributed to the overall positive sentiment in the market.
Conversely, Sinad Holding Co (TADAWUL:4080) experienced a decline of 6.06%, followed by ADES Holding Company SJSC (TADAWUL:2382), which dropped by 5.32%, and Arabian Drilling Co (TADAWUL:2381), which slid by 4.49%, emerging as the session’s worst performers.
Despite the gainers outnumbering the losers, the overall market breadth remained balanced, with no clear dominance in either direction.
In commodities trading, crude oil prices saw a slight increase, with May delivery up by 0.16% to $86.73 a barrel for West Texas Intermediate (WTI) crude, while Brent oil for delivery in June rose by 0.23% to $90.86 a barrel. Additionally, the price of gold futures for June rose by 1.76% to $2,349.10 per troy ounce, reflecting increased demand for safe-haven assets.
Currency markets saw stability, with the EUR/SAR pair unchanged at 4.06 and the USD/SAR pair remaining steady at 3.75.
Meanwhile, the US Dollar Index Futures, which measures the value of the U.S. dollar against a basket of major currencies, showed a modest increase of 0.17% to 104.07, indicating some strength in the greenback in global markets.
