Story
Saudi Stocks Hit 6-Month Low on Broad Sector Weakness
Saudi Arabia's benchmark stock index, the Tadawul All Share, fell 0.46% at the close of trading on Thursday, establishing a new six-month low. The decline was driven by broad-based selling pressure, with several key sectors contributing to the negative performance.
Market Details
The session saw decliners significantly outpace advancers on the Saudi Stock Exchange. According to market data, 184 stocks ended the day lower, while 131 registered gains, and 19 closed unchanged. The selling pressure was most pronounced in the Agriculture & Food, Energy & Utilities, and Hotels & Tourism sectors.
The day's worst-performing stocks included:
- Methanol Chemicals Company (2001), which plunged 9.49% to trade at 25.00, hitting an all-time low.
- Tabuk Agricultural Development Company (6040), which fell 8.25% to end at 38.28.
- Armah Sports Co (6022), which decreased by 7.83% to close at 61.25.
AdDespite the overall market downturn, a few companies posted strong gains. Raydan Food Company (6012) was the top performer, rising 7.75%. It was followed by Naseej International Trading Company (1213) and Raoom Trading Company (4144), which added 4.44% and 4.34%, respectively.
Commodities and Currency Context
The slide in Saudi equities occurred even as energy prices, a key driver for the kingdom's economy, moved higher. November contracts for Crude Oil futures rose 1.22% to $91.52 a barrel, while Brent oil for December delivery gained 2.14% to reach $100.13 a barrel.
In currency markets, the Saudi riyal remained stable against the U.S. dollar, with the USD/SAR pair unchanged at 3.75. The US Dollar Index Futures, which measures the greenback against a basket of major currencies, was up 0.34%, indicating broader dollar strength.
Read next
More on Stocks
FTC Orders Walmart, Uber, Delta to Disclose Data on Personalized Pricing
The U.S. Federal Trade Commission is demanding nine major companies, including leading retail, travel, and gig economy firms, to provide information on how they use consumer data for setting individual prices and wages.
Google Launches Gemini 4 Carbon AI Model to Bolster Cybersecurity Capabilities
Alphabet's Google has unveiled Gemini 4 Carbon, its latest AI model specifically designed for advanced cybersecurity tasks like vulnerability detection and secure code generation. The launch escalates competition with rivals OpenAI and Anthropic in the enterprise AI market.
Oracle Shares Surge After Unveiling $225 Billion Revenue Target for 2030
Oracle stock rose sharply after the company presented a long-term financial outlook targeting at least $225 billion in annual revenue by fiscal 2030, driven by its expanding AI infrastructure business.
DOJ Scrutinizes Nvidia's $12.9B Hugging Face Deal Amid Broader Antitrust Probe, Sources Say
The U.S. Department of Justice is reportedly examining Nvidia's planned $12.93 billion acquisition of AI platform Hugging Face as part of a wider, ongoing antitrust investigation into the chipmaker's market conduct.