Saudi Arabian equities finished lower on Thursday as sector-specific weakness pushed the benchmark downward. At the close, the Tadawul All Share was down 0.66%.
Losses were concentrated in Media & Publishing, Building & Construction and Energy & Utilities, a combination that weighed on the market’s overall performance.
Among individual stocks, Al Masane Al Kobra Mining Company CJSC (TADAWUL:1322) was the leading gainer, climbing 6.47% or 7.10 points to close at 116.80. Specialized Medical Co (TADAWUL:4019) gained 4.25% or 0.85 points to finish at 20.85, while Bank AlJazira (TADAWUL:1020) rose 4.16% or 0.50 points to end the session at 12.53.
On the downside, Red Sea Housing Services Company (TADAWUL:4230) dropped 5.32% or 1.52 points to 27.06 at the close. Saudi vitrified clay pipes co. (TADAWUL:2360) declined 5.07% or 1.18 points to finish at 22.10, and Consolidated Grunenfelder Saady Holding Co (TADAWUL:4147) was down 5.05% or 0.51 points to 9.59.
Market breadth showed a clear skew toward declines: falling stocks outnumbered advancing ones by 279 to 64, with 12 names ending the trading day unchanged.
Notable price milestones were recorded during the session. Shares of Al Masane Al Kobra Mining Company CJSC moved to all-time highs, rising to 116.80. In contrast, Red Sea Housing Services Company declined to 52-week lows, settling at 27.06.
Commodities trading saw upward moves for energy and precious metals. Crude oil for March delivery rose 2.45% or $1.55, closing at $64.76 a barrel. Brent oil for April delivery increased 2.24% or $1.51 to $68.88 a barrel. In precious metals, the April Gold Futures contract advanced 4.21% or 224.69 to trade at $5,564.89 a troy ounce.
Foreign-exchange rates tied to the Saudi riyal were broadly steady. EUR/SAR was effectively unchanged, up 0.01% at 4.48, while USD/SAR registered no change at 3.75. The US Dollar Index Futures ticked lower by 0.09% to 96.19.
Summary of session highlights:
- Tadawul All Share closed down 0.66%.
- Sectors leading the decline included Media & Publishing, Building & Construction and Energy & Utilities.
- Market breadth favored decliners by a wide margin, with 279 fallers versus 64 gainers and 12 unchanged issues.