Saudi Arabian equities ended Monday's session with a modest gain as sector-specific strength pushed the main index higher. The Tadawul All Share closed up 0.13%.
Several companies posted notable moves. Leading the risers was Saudi Paper Manufacturing Co. (TADAWUL:2300), which jumped 9.99% - a 5.55 point increase - to finish at 61.10. Saudi Fisheries Co. (TADAWUL:6050) added 9.95%, rising 6.95 points to close at 76.80. Ash-Sharqiyah Development Company (TADAWUL:6060) advanced 6.85%, or 1.07 points, to end the day at 16.70.
On the downside, Saudi Darb Investment Co (TADAWUL:4130) fell 5.69%, losing 0.14 points to trade at 2.32 at the close. Batic Investments and Logistics Co (TADAWUL:4110) declined 5.41%, down 0.12 points to finish at 2.10. Al Moammar Information Systems Co CJSC (TADAWUL:7200) slipped 4.79%, or 11.20 points, to end at 222.80.
Market breadth favored decliners by a meaningful margin: 199 stocks fell while 117 advanced and 21 were unchanged on the Saudi Arabia Stock Exchange.
Commodity prices showed mixed movement during the trading day. Crude oil for August delivery was down 0.48%, a decline of 0.33, to settle at $68.36 a barrel. Brent crude for September delivery decreased 0.42%, or 0.30, to $71.82 a barrel. Precious metals moved higher, with the August Gold Futures contract up 0.48%, gaining 19.81 to trade at $4,145.51 a troy ounce.
Currency pairs connected to the Saudi riyal were mostly stable. EUR/SAR eased 0.13% to 4.29, while USD/SAR was essentially unchanged, moving 0.03% to 3.76. The US Dollar Index Futures posted a 0.26% rise to 100.88.
Market commentary and promotional content present with the trading update raised a question about the outlook for one of the session's gainers. The promotional copy asked whether now is the time to buy 6050 and described an analytical tool that evaluates 6050 each month against thousands of alternatives using more than 100 financial metrics. That copy cited two prior stock discoveries attributed to the tool - Siemens Energy (+231.5%) and Sandisk (+189%) - and suggested the tool could identify whether 6050 or another opportunity in the same space merits attention. The promotional message also referenced a July sale offering 60% off a subscription.
Session highlights
- Tadawul All Share: +0.13%
- Top gainers included TADAWUL:2300, TADAWUL:6050 and TADAWUL:6060
- Top decliners included TADAWUL:4130, TADAWUL:4110 and TADAWUL:7200
This session reflected selective strength in transport, media and agricultural-related names, while a larger number of listings recorded losses by count.