Saudi Tadawul Index Edges Higher, Led by Insurance and Financials

Saudi Arabia's Tadawul All Share Index (TASI) finished Thursday's trading session in positive territory, posting a slight gain of 0.19%. The advance was supported by broad-based buying in several key sectors, according to closing data from the exchange.

Market Performance Details

The market demonstrated positive breadth, with advancing stocks outnumbering decliners. A total of 183 companies saw their shares rise, while 146 fell and 30 closed unchanged. The primary drivers behind the index's upward move were gains in the Insurance, Cement, and Financial Services sectors.

Among the session's top performers were:

• Saudi Arabia Refineries Co. (TADAWUL:2030), which surged 4.85% to close at 54.00.
• Walaa Cooperative Insurance Company SJSC (TADAWUL:8060), adding 4.62% to end at 11.78.
• Saudi Automotive Services Co. (TADAWUL:4050), which climbed 4.08% to finish at 43.40.

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On the other end of the spectrum, Taiba Holding Co. (TADAWUL:4090) was among the notable decliners, falling 2.49% to 19.17. Al Moammar Information Systems Co CJSC (TADAWUL:7200) also dropped 2.28%.

Commodity and Currency Context

The positive close in Riyadh coincided with a rally in the energy markets, a critical driver for the Saudi economy. Crude oil futures for October delivery were up 1.60% to trade at $92.47 a barrel, while the November Brent oil contract rose 1.07% to $96.65 a barrel.

In currency markets, the EUR/SAR pair gained 0.31% to 4.36, while the USD/SAR remained unchanged at 3.76, in line with the Saudi riyal's peg to the U.S. dollar. The US Dollar Index Futures, which measures the greenback against a basket of major currencies, traded lower by 0.54% at 99.02.