Key Points:
- Saudi stocks closed lower, with losses predominantly observed in the Energy & Utilities. The Tadawul All Share index decreased by 0.19%.
- Thimar Development Holding Co, Saudi Steel Pipe Company, and Arabian Pipes Company were among the top performers.
- CHUBB Arabia Cooperative Insurance, Al Sagr Co-operative Insurance Co., and Salama Cooperative Insurance Co. were among the worst performers.
- 206 stocks declined, 84 stocks advanced on the Saudi Arabia Stock Exchange, while 18 remained unchanged.
Saudi Arabia stocks experienced a downturn as trading closed on Sunday, with losses predominantly seen in the Energy & Utilities, Insurance, and Transport sectors, dragging shares lower. After the trading day in Saudi Arabia, the Tadawul All Share index dipped by 0.19%, marking a new 1-month low.
Among the standout performers for the session on the Tadawul All Share was Thimar Development Holding Co (TADAWUL:4160), which surged by 9.89% or 1.30 points, closing at 14.44. Additionally, Saudi Steel Pipe Company (TADAWUL:1320) saw a rise of 5.12% or 4.20 points, settling at 86.20, while Arabian Pipes Company (TADAWUL:2200) climbed by 5.06% or 8.80 points to reach 182.60 by the session’s end.
Conversely, CHUBB Arabia Cooperative Insurance (TADAWUL:8240) experienced the most significant decline, dropping by 9.91% or 3.90 points, concluding at 35.45. Al Sagr Co-operative Insurance Co (TADAWUL:8180) saw a decrease of 7.96% or 2.65 points, finishing at 30.65, while Salama Cooperative Insurance Co (TADAWUL:8050) fell by 7.23% or 2.50 points, reaching 32.10.
Market sentiment was tilted towards declining stocks, which outnumbered advancing ones by 206 to 84 on the Saudi Arabia Stock Exchange, while 18 remained unchanged.
In commodities trading, crude oil for June delivery saw a slight uptick of 0.11%, or 0.09, reaching $83.66 a barrel. Brent oil for July delivery experienced a more significant increase of 0.42%, or 0.37, hitting $88.21 a barrel. Meanwhile, the June Gold Futures contract rose by 0.30%, or 7.10, trading at $2,349.60 a troy ounce.
Regarding currency exchange rates, the EUR/SAR pair depreciated by 0.31%, settling at 4.01, while the USD/SAR pair remained unchanged at 3.75. The US Dollar Index Futures surged by 0.48% to 105.96.
