Saudi Arabia's equity market closed the trading session lower on Sunday, with the benchmark Tadawul All Share slipping 0.13% at the final bell. Losses in the Financial Services, Real Estate Development and Retail sectors were principal contributors to the retreat, leaving the overall index slightly in negative territory.
Among individual performers, Saleh Abdulaziz Al Rashed And Sons (TADAWUL:1324) led gains, rising 9.99% - or 5.55 points - to finish at 61.10. The move marked a new all-time high for the stock, with that same rise recorded in late trade. Bawan (TADAWUL:1302) added 7.57% or 3.58 points to close at 50.90, and Anaam International Holding Group (TADAWUL:4061) gained 6.35% or 0.65 points to end the session at 10.89.
On the downside, Alkhaleej Training & Education Co (TADAWUL:4290) was the largest decliner, falling 4.52% or 0.79 points to 16.69 at the close. Al Sagr Co-operative Insurance Co (TADAWUL:8180) dropped 2.94% or 0.28 points to settle at 9.26, while Saudi Arabia Refineries Co. (TADAWUL:2030) fell 2.84% or 1.42 points to close at 48.50.
Market breadth showed more rising names than decliners on the Saudi Arabia Stock Exchange, with 192 stocks higher versus 144 that fell and 24 that finished unchanged.
Commodities markets were notably firmer during the session. Crude oil for May delivery climbed 5.46% or 5.16 to $99.64 a barrel. Brent oil for June delivery rose 3.37% or 3.43 to $105.32 a barrel. Precious metals also moved higher, with the June Gold Futures contract up 2.65% or 116.30 to trade at $4,508.60 a troy ounce.
Foreign exchange activity showed EUR/SAR down 0.14% to 4.32, while USD/SAR was effectively unchanged, moving 0.02% to 3.75. On the cash-equivalent front, the US Dollar Index Futures advanced 0.27% to 99.98.
Investor attention was split between the pockets of strength among select equities and the broader sectoral weakness that nudged the index lower. Rising share counts outnumbered declines, yet the weight of losses in key sectors was sufficient to push the Tadawul All Share into negative territory by session end.
Investment product note included in the session commentary: The market commentary referenced model-driven stock selection strategies, stating that Investing.com’s ProPicks AI offers portfolios selected by its AI, that year to date two out of three global portfolios are outperforming their benchmark indexes with 88% of holdings in the green, and that their flagship Tech Titans strategy reportedly doubled the S&P 500 within 18 months with examples cited such as Super Micro Computer (+185%) and AppLovin (+157%).