Saudi Arabian equities ended lower on Sunday, with the Tadawul All Share index retreating 0.56% to register a new one-month low. Market participants saw selling concentrated in the Energy & Utilities, Retail and Cement sectors, which led the index lower at the close.
Top performers
- Marketing Home Group for Trading Co (TADAWUL:4194) advanced 7.53%, up 3.40 points to finish at 48.58.
- Saudi Cable Company (TADAWUL:2110) rose 5.60%, gaining 8.80 points to close at 166.00.
- Amana Cooperative Insurance Co (TADAWUL:8310) added 5.42%, up 0.38 points to 7.39 at the close.
Lagging names
- Jarir Marketing Co (TADAWUL:4190) was the session's weakest, down 3.96% or 0.64 points to 15.54 at the close.
- Saudi Manpower Solutions Co (TADAWUL:1834) declined 3.57%, slipping 0.23 points to 6.22.
- Arabian Mills for Food Products (TADAWUL:2285) fell 3.48%, down 1.66 points to end at 46.00.
On the Saudi Exchange, declining issues outnumbered advancers by 218 to 98, while 26 stocks finished unchanged.
Commodities and currencies
Crude oil for July delivery eased 2.69% or $2.50, trading at $90.54 a barrel. Brent for August delivery slipped 2.04% or $1.94 to $93.09 a barrel. Precious metals softened as the August Gold Futures contract dropped 3.10% or $139.70 to trade at $4,365.30 a troy ounce.
In foreign exchange, the euro traded lower against the Saudi riyal, with EUR/SAR down 0.76% to 4.33. USD/SAR was effectively unchanged, moving 0.01% to 3.75. The US Dollar Index Futures was higher by 0.67% at 100.05.
Summary
The Tadawul All Share closed 0.56% lower, settling at a one-month trough as losses in Energy & Utilities, Retail and Cement sectors pushed the index down. A larger number of stocks fell versus those that gained, and commodity markets showed declines in crude, Brent and gold futures. FX moves included a weaker euro versus the riyal and a modestly firmer US dollar in futures trading.
Key points
- Market direction - Tadawul All Share fell 0.56% to a new one-month low, with sector-specific weakness concentrated in Energy & Utilities, Retail and Cement.
- Stock movers - Marketing Home Group for Trading Co, Saudi Cable Company and Amana Cooperative Insurance Co were the session's strongest performers; Jarir Marketing Co, Saudi Manpower Solutions Co and Arabian Mills for Food Products were the weakest.
- Commodities and FX - July crude, August Brent and August gold futures all retreated, while the US Dollar Index Futures rose modestly.
Risks and uncertainties
- Sector concentration - Continued pressure in Energy & Utilities, Retail and Cement could keep the index under strain in the near term.
- Commodity volatility - Slippage in crude, Brent and gold futures may add uncertainty for resource-linked and commodity-sensitive sectors.
- Currency movements - Shifts in major currency pairs, including EUR/SAR and the US dollar, could affect foreign-denominated flows and valuation dynamics.