Saudi Arabia's stock market ended Thursday on a positive note, with the Tadawul All Share index closing 0.75% higher. The advance was paced by strength in the Insurance, Energy & Utilities and Hotels & Tourism sectors, which collectively pushed broader market sentiment into positive territory.
Top performers
Leading the session, Saudi Kayan Petrochemical Company (TADAWUL:2350) rose 9.96% - an increase of 0.48 points - to finish at 5.30. Ataa Educational Co (TADAWUL:4292) climbed 9.94%, gaining 5.20 points to close at 57.50. Rabigh Refining & Petrochemical Co (TADAWUL:2380) also posted a notable advance, up 5.74% or 0.41 points to 7.55.
Lagging names
On the downside, Saudia Dairy and Foodstuff .Co (TADAWUL:2270) declined 5.93%, a fall of 13.90 points, to settle at 220.50. The move marked a fall to three-year lows for the stock. Abdullah Saad Mohammed Abo Moati Stationeries Co (TADAWUL:4191) dropped 2.77% or 1.24 points to end at 43.56, while Zahrat Al Waha for Trading Co (TADAWUL:3007) slipped 2.30% or 0.06 points to 2.55.
Market breadth favored gainers, with rising stocks on the Saudi Arabia Stock Exchange outnumbering decliners by 231 to 99, and 19 issues finishing unchanged.
Commodities and FX
Crude oil for March delivery moved lower, down 0.37% or 0.24 to $64.39 a barrel. Brent oil for April delivery fell 0.50% or 0.35 to $69.05 a barrel. Precious metals also eased: the April Gold Futures contract fell 0.38% or 19.16 to trade at $5,079.34 a troy ounce.
In currency markets, EUR/SAR was unchanged 0.06% to 4.45, while USD/SAR was unchanged 0.00% to 3.75. The US Dollar Index Futures was up 0.11% at 96.83.
Summary
The Tadawul All Share closed up 0.75% with petrochemicals and education stocks among the strongest performers. Saudi Kayan Petrochemical, Ataa Educational and Rabigh Refining led gains, while Saudia Dairy and Foodstuff fell sharply to a three-year low. Oil and gold both retreated modestly during the session.
Key points
- Index performance: Tadawul All Share ended the session up 0.75%.
- Top sectors: Insurance, Energy & Utilities, and Hotels & Tourism provided upward momentum.
- Market breadth: 231 stocks rose, 99 declined and 19 were unchanged.
Risks and uncertainties
- Individual stock volatility: Some listed companies exhibited large single-day moves, exemplified by Saudia Dairy and Foodstuff falling 5.93% to a three-year low, highlighting idiosyncratic risk within consumer food names.
- Commodities sensitivity: Declines in crude oil and Brent prices - down to $64.39 and $69.05 respectively - may affect energy-related earnings and market sentiment.
All percentage moves, prices and counts reported above reflect the market close data for the session described.