Saudi Arabian equities closed the session in negative territory on Thursday, as sector-specific weakness in Cement, Telecoms & IT and Financial Services pressured the benchmark.
At the close, the Tadawul All Share recorded a 0.30% decline.
Market breadth showed more advancers than decliners on the exchange, with 192 stocks finishing higher versus 137 that declined. Twenty-three issues ended the session unchanged.
Among individual performers, Nice One Beauty Digital Marketing (TADAWUL:4193) led gains on the index, finishing up 6.33% or 0.84 points to close at 14.11. Nofoth Food Products Co (TADAWUL:2288) rose 6.13% or 0.49 points to 8.48 at the close. Power and Water Utility Company for Jubail and Yanbu (TADAWUL:2083) also featured among the top risers, gaining 5.42% or 1.78 points to finish at 34.62.
On the downside, Arabian Cement Co (TADAWUL:3010) was the session's weakest stock, sliding 4.03% or 0.97 points to end at 23.09. Al Masane Al Kobra Mining Company CJSC (TADAWUL:1322) dropped 3.68% or 3.40 points to finish at 89.10. Saudi National Bank (TADAWUL:1180) declined 3.15% or 1.38 points to 42.46.
Commodities traded higher during the session. Crude oil for May delivery climbed 0.79% or 0.72 to settle at $92.01 per barrel. Brent crude for June delivery increased 1.43% or 1.36 to $96.29 a barrel. Precious metals also saw gains, with the June Gold Futures contract rising 0.30% or 14.70 to trade at $4,838.30 per troy ounce.
Foreign exchange moves were modest. The euro traded lower against the Saudi riyal, with EUR/SAR down 0.15% to 4.42. USD/SAR was unchanged at 3.75. The US Dollar Index Futures ticked up 0.13% to 97.98.
Summary
Thursday's session ended with a small overall pullback in Saudi equities as losses in a handful of sectors outweighed pockets of strength among individual names. Commodity prices, including both crude oil benchmarks and gold, finished higher, while the riyal remained broadly steady against major currencies.
Key points
- The Tadawul All Share closed down 0.30%, reflecting modest overall weakness.
- Leading sector drags included Cement, Telecoms & IT and Financial Services, affecting heavyweight and mid-cap names.
- Energy and metals markets were firmer - Brent and WTI both rose, and gold advanced; FX moves against the riyal were limited.
Risks and uncertainties
- Sustained weakness in the Financial Services sector could weigh on bank-related sentiment and indices concentrated in that area.
- Further declines in the Cement sector may reflect company- or sector-specific pressures that could impact construction-related segments of the market.
- Volatility in commodity prices, particularly crude oil and gold, introduces uncertainty for energy-exposed and resource-linked equities.