Saudi Arabia Stock Market Update
Stock Performance Overview
Saudi Arabia stocks experienced a downward trend at the close of Sunday’s trading session, with key sectors like technology, finance, and energy contributing to the decline. The Tadawul All Share Index fell by 0.60%.
Top Performers
Among the top performers on the stock exchange were Al-Rajhi Cooperative Insurance, which saw a significant increase of 9.92%, Saudi Steel Pipe Company with a rise of 9.87%, and Middle East Pharmaceutical, which gained 7.56% in late trading.
Worst Performers
Conversely, Mobile Telecommunications Company, Saudi Arabian Amiantit Co., and Hail Cement Company experienced declines of 6.31%, 4.27%, and 4.12% respectively.
Market Analysis
Despite some companies hitting all-time highs, the overall market sentiment was subdued, with more falling stocks than rising ones. The Saudi Arabia Stock Exchange witnessed 165 declining stocks, 115 advancing stocks, and 23 remaining unchanged.
Commodities and Forex
- Crude oil prices for April delivery rose by 1.98% to $79.81 a barrel.
- Brent oil prices for May delivery increased by 1.89% to $83.46 a barrel.
- Gold futures for April saw a rise of 1.80% to $2,091.60 per troy ounce.
- The EUR/SAR exchange rate was up by 0.33% to 4.07.
- The USD/SAR exchange rate remained unchanged at 3.75.
Market Trends
Amidst fluctuations in oil prices and currency exchange rates, the US Dollar Index Futures registered a decline of 0.26% at 103.82.
