Saudi Arabia's equity market finished slightly positive on Sunday, with the Tadawul All Share rising 0.03% at the close, supported by gains in the Insurance, Hotels & Tourism and Telecoms & IT sectors.
The session's top performers on the Tadawul All Share included Saudi Arabian Amiantit Co. (TADAWUL:2160), which jumped 9.99% - gaining 1.42 points to finish at 15.63. Development Works Food Co (TADAWUL:6013) advanced 9.97%, an increase of 8.90 points to close at 98.20, while Methanol Chemicals Company (TADAWUL:2001) rose 9.89% or 0.82 points to end trading at 9.11.
On the downside, Emaar The Economic City (TADAWUL:4220) led the decliners, falling 7.64% or 0.90 points to close at 10.88. Saudi Electricity Company (TADAWUL:5110) slipped 4.35%, down 0.75 points to 16.50, and East Pipes Integrated Company for Industry (TADAWUL:1321) decreased 3.72% or 6.40 points to finish at 165.60.
Market breadth favored advancing issues, with 183 stocks rising versus 155 that fell, while 24 securities finished unchanged.
Commodities moved higher during the session. Crude oil for May delivery increased 0.47% - up $0.52 - to trade at $112.06 a barrel. Brent crude for June delivery rose 7.78%, gaining $7.87 to reach $109.03 a barrel. Precious metals also firmed: the June Gold Futures contract increased 0.49% or $23.00 to trade at $4,702.70 a troy ounce.
Foreign exchange rates showed modest movement. The euro traded lower versus the Saudi riyal, with EUR/SAR down 0.16% to 4.32, while USD/SAR was essentially unchanged, moving 0.03% to 3.75. The US Dollar Index Futures was up 0.13% at 99.99.
Summary
The Tadawul All Share closed marginally higher as sector gains in Insurance, Hotels & Tourism and Telecoms & IT offset losses in other names. Several individual stocks recorded sizable daily percentage moves, and commodities including crude and gold rose during the session.
Key points
- Benchmark: Tadawul All Share finished up 0.03%.
- Sectors: Insurance, Hotels & Tourism and Telecoms & IT led gains across the market.
- Commodities and FX: May WTI crude, June Brent, and June gold all recorded gains; EUR/SAR softened while USD/SAR was virtually unchanged.
Risks and uncertainties
- Individual stock volatility - the session featured substantial percentage moves among the largest risers and decliners, which may contribute to uneven returns across sectors.
- Commodity price swings - notable increases in crude and Brent prices during the session introduce uncertainty for energy-linked valuations and related market sentiment.
- Currency fluctuations - shifts in EUR/SAR and stability in USD/SAR could influence cross-border trade and investor positioning.