Saudi Arabia Stock Market Update: Positive Close Amid Sector Gains

The Saudi arabia stock market saw a positive close on Monday, driven by notable gains in the Media & Publishing, Financial Services, and Real Estate Development sectors. The Tadawul All Share Index rose by 0.16%, reflecting investor optimism across key sectors.

Sector Performance Boosts Market

The performance of several sectors helped lift the market:

• Media & Publishing: Benefiting from strong investor interest, this sector saw significant gains.
• Financial Services: Financial stocks saw a steady increase, contributing to the overall market uptick.
• Real Estate Development: The real estate sector showed resilience, adding to the day’s positive performance.

Top Performers: Companies Leading the Charge

Several stocks stood out for their impressive gains:

1. The National Co for Glass Industries (TADAWUL: 2150)

   • +9.11% (4.50 points) to 53.90. This strong performance marked the highest increase on the exchange.

2. Arriyadh Development Co. (TADAWUL: 4150)

   • +5.76% (1.50 points) to 27.55, reflecting strong interest in real estate developments.

3. Al Masane Al Kobra Mining Co. (TADAWUL: 1322)

   • +4.41% (2.90 points) to 68.70, as mining stocks benefited from positive market sentiment.

Lagging Stocks: A Mixed Picture

Not all stocks shared in the day’s gains, as some key players faced losses:

1. East Pipes Integrated Co. for Industry (TADAWUL: 1321)

   • -3.78% (5.40 points) to 137.40, ending the day in the red.

2. Arabian Pipes Co. (TADAWUL: 2200)

   • -3.68% (4.20 points) to 109.80, marking a decline despite overall market positivity.

3. Alkhorayef Water and Power Technologies Co. (TADAWUL: 2081)

   • -3.31% (4.80 points) to 140.00, one of the top decliners on the exchange.

Market Overview: Advancing vs. Declining Stocks

• 184 stocks declined, outnumbering the 123 advancing stocks.
• 19 stocks remained unchanged, reflecting a mixed market sentiment despite the positive close.

Commodities: Oil and Gold See Gains

Commodities also performed well on Monday, with both oil and gold prices climbing:

• Crude Oil (January Delivery): Rose 0.67% to $67.37 per barrel, signaling a steady demand.
• Brent Oil (January Delivery): Increased 0.69% to $71.53 per barrel, further supporting energy markets.
• Gold (December Futures): Gained 1.13% to $2,599.10 per troy ounce, benefiting from safe-haven buying.

Currency Movements

On the currency front, the Saudi Riyal (SAR) remained relatively stable:

• EUR/SAR remained unchanged at 3.96, reflecting minimal movement in the Euro-SAR exchange rate.
• USD/SAR saw a slight uptick of 0.06%, closing at 3.75.

The US Dollar Index Futures edged higher by 0.05%, closing at 106.67, showing a marginal strengthening of the dollar against a basket of major currencies.

wKey Takeaways

The Saudi stock market closed positively, largely supported by gains in key sectors like Media & Publishing, Financial Services, and Real Estate Development. While some stocks lagged, the overall market sentiment was upbeat. In commodities, oil and gold showed gains, and the Saudi Riyal remained stable against the Euro and US Dollar, reflecting a calm but steady trading environment.

This mixed performance highlights the resilience of the Saudi market, even as individual stocks show varied results. As always, investors should monitor sector movements and global economic factors, especially in oil and commodity markets, which can heavily influence market trends.

Trade Anytime, Anywhere with EFI Markets

EFI Markets is a trusted stock market trading platform, making trading easy with its efficient interface and a variety of tools and features.