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Saudi Arabia's Tadawul All Share Gains 0.78% Led by Financials
Summary
The Saudi Arabian benchmark stock index, the Tadawul All Share, closed higher on Sunday, gaining 0.78% on the back of strong performance in the financial services, construction, and real estate sectors.
Saudi Arabia's benchmark stock index advanced at the close of Sunday's trading session, with the Tadawul All Share (TASI) gaining 0.78%. The rally was broad-based, supported by notable strength in the Financial Services, Building & Construction, and Real Estate Development sectors, according to market data.
Market Performance Details
The session demonstrated positive market breadth, as rising stocks significantly outnumbered declining ones on the Saudi Arabia Stock Exchange. Out of the companies traded, 188 advanced while 129 declined, and 23 remained unchanged, indicating widespread investor buying activity.
Top Movers
Several companies posted significant gains, leading the market higher. The top-performing stocks for the session included:
- Al Sorayai Trading & Industrial Group (1213): Rose 5.92% to close at 13.24.
- Ladun Investment Co (4328): Added 5.38% to end the session at 1.96.
- Ash-Sharqiyah Development Company (6060): Climbed 4.65% to trade at 13.51.
AdConversely, the biggest decliners were led by Tabuk Agriculture Development Co (6040), which fell 5.45%, and Abdullah Saad Mohammed Abo Moati Stationeries Co (4191), which dropped 4.37%.
Commodity and Currency Backdrop
The equity market's gains came despite a downturn in global oil prices. Crude oil futures for November delivery fell 2.29% to $92.44 a barrel, while the December Brent oil contract declined 2.02% to $97.44 a barrel. The divergence suggests investor sentiment in Riyadh was driven by domestic factors rather than broader energy market trends on Sunday.
In other markets, the December Gold Futures contract saw a gain of 0.52% to trade at $4,320.50 a troy ounce. In foreign exchange, the USD/SAR pair remained stable at 3.75, while the US Dollar Index Futures edged lower by 0.26% to 100.76.
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