Saudi Arabia's equity market finished the trading day in the red on Thursday, with the Tadawul All Share index declining 0.45% at the close. Declines in the Insurance, Telecoms & IT and Financial Services groups were cited as the largest sector drags on the session.
Market movers
The session's strongest performers included Gas Arabian Services Company SCJSC (TADAWUL:4146), which jumped 9.96% - a gain of 1.34 points - to finish at 14.79. Emaar The Economic City (TADAWUL:4220) advanced 6.44%, or 0.67 points, to close at 11.07. Sustained Infrastructure Holding Company SJSC (TADAWUL:2190) also recorded a notable rise, up 6.41% or 2.08 points to 34.54 by late trade.
On the downside, Almajed 4 Oud Company SJSC (TADAWUL:4165) led losses, falling 9.97% - a drop of 16.20 points - to end the day at 146.30. First Milling Company SJSC (TADAWUL:2283) was down 3.70% or 2.10 points to 54.60, while Bupa Arabia for Coop. Insurance (TADAWUL:8210) slipped 3.64%, losing 6.90 points to close at 182.50.
Breadth and participation
Declining issues slightly outnumbered advancing ones on the Saudi exchange, with 166 stocks lower versus 159 gainers. Nineteen issues finished unchanged, reflecting a market with relatively balanced, but negative, breadth.
Commodities and FX
Energy markets moved lower during the session. Crude oil for June delivery fell 1.08%, or $1.15, to $105.73 a barrel. Brent for July delivery declined 0.59%, or $0.65, to $109.79 a barrel. Precious metals saw strength as June Gold Futures climbed 1.67% - a rise of $76.40 - to trade at $4,637.90 a troy ounce.
Currency crosses involving the Saudi riyal recorded small changes. EUR/SAR rose 0.20% to 4.39, while USD/SAR was effectively unchanged, moving 0.01% to 3.75. The US Dollar Index Futures retreated 0.46% to 98.38.
Context and takeaway
The trading day was characterized by notable single-stock volatility amid a modestly lower overall market. While several names posted double-digit percentage swings in both directions, the broader index registered only a modest decline. Commodity price moves - lower oil and firmer gold - accompanied the equity action and translated into mixed signals across related market sectors.