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Saudi Tadawul Index Edges Higher, Led by Industrial and Cement Sectors
Saudi Arabia's benchmark stock index, the Tadawul All Share, closed slightly higher on Sunday, gaining 0.10% as strength in industrial and construction-related sectors offset broader market weakness.
Session in Review
The modest advance was primarily driven by gains in the Industrial Investment, Cement, and Building & Construction sectors, according to closing market data. However, the session's market breadth was negative, indicating that the gains were not widespread across the exchange.
Falling stocks outnumbered advancing ones on the Saudi Arabia Stock Exchange by 159 to 154, with 25 issues ending the day unchanged. This narrow leadership suggests a selective investor appetite rather than a broad-based rally.
Top Movers
Among the session's standout performers, LIVA Insurance Co. (TADAWUL: 8280) was a top gainer, surging 9.93% to close at 14.61, a new 52-week high. Other notable advancers included Saudi Printing & Packaging Company (TADAWUL: 4270), which rose 9.91%, and Saudi Industrial Export Co. (TADAWUL: 4140), which climbed 8.89%.
AdOn the downside, Saudi Fisheries Co. (TADAWUL: 6050) was among the biggest decliners, falling 4.76%. It was followed by Saudi Arabia Refineries Co. (TADAWUL: 2030), which dropped 4.08%, and East Pipes Integrated Company for Industry (TADAWUL: 1321), down 3.96%.
Broader Market Context
The equity market's slight gain came as energy prices softened in global commodities trading. West Texas Intermediate (WTI) crude oil for August delivery was down approximately 0.93% to $71.41 a barrel, while Brent crude for September delivery fell about 0.38% to $76.01 a barrel.
In currency markets, the USD/SAR pair remained stable at 3.75, reflecting the Saudi riyal's peg to the U.S. dollar.