Key Points:
- Saudi Arabia’s Tadawul All Share index declined by 0.30%, with losses primarily attributed to the Financial Services, Cement, and Retail sectors.
- Etihad Atheeb Telecommunication, International Company for Water and Power Projects, and Saudi Steel Pipe Company were among the top performers.
- Sahara International Petrochemical Company SJSC, Arab National Bank, and Saudi National Bank were among the worst performers.
- Falling stocks outnumbered advancing ones, with 161 stocks declining, 134 advancing, and 14 remaining unchanged.
On Sunday, Saudi Arabia’s stock market, the Tadawul All Share index, saw a decline with losses primarily attributed to the Financial Services, Cement, and Retail sectors. At the close of the trading session, the Tadawul All Share index dropped by 0.30%, reflecting the overall negative sentiment among investors.
Among the top performers was Etihad Atheeb Telecommunication (TADAWUL:7040), which surged by 9.98% or 10.00 points, closing at 110.20. Additionally, International Company for Water and Power Projects (ACWA Power) (TADAWUL:2082) saw a notable increase of 6.65% or 24.20 points, reaching a closing price of 388.00. Saudi Steel Pipe Company (TADAWUL:1320) also performed well, rising by 6.15% or 4.40 points to 75.90 at the end of the trading session.
On the other hand, the session saw some notable declines, with Sahara International Petrochemical Company SJSC (TADAWUL:2310) dropping by 4.72% or 1.70 points to 34.35. Arab National Bank (TADAWUL:1080) and Saudi National Bank (TADAWUL:1180) also recorded losses of 4.08% and 3.28% respectively, closing at 29.35 and 39.85.
Falling stocks outnumbered advancing ones on the Saudi Arabia Stock Exchange, with 161 stocks declining, 134 advancing, and 14 remaining unchanged. Etihad Atheeb Telecommunication (TADAWUL:7040) reached a 5-year high during the session, while International Company for Water and Power Projects (ACWA Power) (TADAWUL:2082) reached an all-time high, indicating strong bullish sentiment towards these companies.
In commodities trading, crude oil prices showed slight gains, with May delivery up by 0.51% to $85.45 a barrel for West Texas Intermediate (WTI) crude. Brent oil for June delivery rose 0.46% to $90.15 a barrel. However, June Gold Futures contracts experienced a decline of 0.53% to $2,360.20 a troy ounce.
In the currency market, the euro to Saudi riyal (EUR/SAR) exchange rate dropped by 0.83% to 3.99, while the US dollar to Saudi riyal (USD/SAR) remained unchanged at 3.75. The US Dollar Index Futures showed an increase of 0.72% to 105.82, reflecting a strengthening of the US dollar against a basket of major currencies.
