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Saudi Tadawul Index Ends Flat, Hits One-Month Low Amid Sector Weakness
Saudi Arabia's benchmark stock index, the Tadawul All Share, edged lower at the close of trading on Wednesday, falling by a marginal 0.02% to settle at a new one-month low. The slight decline was driven by losses in several key sectors, according to market data reported by Investing.com.
Sector Pressure and Market Breadth
The negative performance was primarily influenced by downturns in the Transport, Agriculture & Food, and Insurance sectors. The overall market sentiment was bearish, with declining stocks outnumbering advancing ones.
- Decliners: 180 stocks
- Advancers: 142 stocks
- Unchanged: 15 stocks
Notable Stock Movers
AdDespite the index's flat close, several companies experienced significant price swings. Flynas Company (TADAWUL:4264) was among the worst performers, falling 4.46% to a new all-time low. Sumou Real Estate (TADAWUL:4323) and Abdullah Al Othaim Markets (TADAWUL:4001) also hit 5-year lows, declining 4.13% and 3.38%, respectively.
In contrast, Raydan Co. (TADAWUL:6012) was the session's top gainer, surging 10.00%. Nofoth Food Products Co. (TADAWUL:2288) also posted a strong performance, rising 9.87%.
Commodity and Currency Context
The trading session in Riyadh coincided with a pullback in global energy prices. West Texas Intermediate (WTI) crude oil for October delivery fell 1.77% to $103.96 a barrel, while Brent crude for November delivery was down 1.14%. In currency markets, the Saudi riyal held steady against the U.S. dollar, with the USD/SAR pair unchanged at 3.76.
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