Saudi Arabia Stocks Show Resilience with Tadawul All Share Gaining 0.37%
In a demonstration of resilience, Saudi Arabia stocks closed higher on Sunday, with the Tadawul All Share exhibiting a 0.37% increase. The positive momentum was driven by notable gains in key sectors, including Transport, Media & Publishing, and Hotels & Tourism.
Top Performers on the Tadawul All Share
MBC Group CJSC (TADAWUL:4072) emerged as a standout performer during the session, recording an impressive 9.98% increase or 6.60 points, reaching 72.70 at the close. Jamjoom Pharmaceuticals Factory Company SJSC (TADAWUL:4015) also delivered a robust performance, gaining 9.92% or 12.40 points to finish at 137.40. Takween Advanced Industries (TADAWUL:1201) followed suit, rising by 9.89% or 1.64 points, closing at 18.22.
Underperformers in the Session
Despite the overall positive trend, some stocks experienced declines during the session. Riyadh Cement Co (TADAWUL:3092) was among the underperformers, falling by 3.23% or 1.00 points to trade at 29.95 at the close. Arabian Drilling Co (TADAWUL:2381) declined by 2.72%, losing 5.60 points and ending at 200.60. National Medical Care Company (TADAWUL:4005) also registered a decrease, down by 2.69% or 5.00 points to 181.00.
Market Overview
The Saudi Arabia Stock Exchange saw a positive balance between rising and declining stocks, with 153 stocks experiencing gains, 126 in decline, and 15 remaining unchanged.
MBC Group CJSC (TADAWUL:4072) and Jamjoom Pharmaceuticals Factory Company SJSC (TADAWUL:4015) achieved all-time highs during the session, with both stocks reaching new peaks.
Commodities and Currency Trends
In commodities trading, crude oil for March delivery experienced a slight decline of 0.70%, reaching $73.43 a barrel. Brent oil for delivery in March also fell by 0.63%, down to $78.60 a barrel. In contrast, the February Gold Futures contract rose by 0.50%, reaching $2,031.80 per troy ounce.
In the currency market, EUR/SAR showed an increase of 0.24%, reaching 4.09, while USD/SAR remained relatively unchanged with a 0.02% movement, settling at 3.75.
The US Dollar Index Futures exhibited a decline of 0.27%, standing at 103.03.
Saudi Arabia's stock market displayed resilience and positive momentum during the recent session, reflecting the strength of various sectors. The noteworthy performances of key stocks and the overall balance between gainers and decliners indicate a dynamic market environment. As the Saudi economy continues to navigate global trends, investors remain vigilant, monitoring the diverse factors influencing market dynamics.
