Saudi Tadawul Index Hits 1-Month Low as Energy Sector Declines

Saudi Arabia's benchmark stock index, the Tadawul All Share, closed down 0.63% on Monday, establishing a new one-month low. The decline was driven by widespread selling pressure, with falling stocks significantly outnumbering advancing ones, according to data from Investing.com.

Broad-Based Sector Weakness

The session's losses were led by weakness in several key industries. The Media & Publishing, Energy & Utilities, and Industrial Investment sectors were among the primary drivers of the downturn.

Market breadth was decidedly negative, as 226 companies listed on the Saudi Arabia Stock Exchange saw their shares fall, while only 102 advanced. An additional 20 stocks ended the session unchanged, underscoring the bearish sentiment among investors.

Notable Stock Movements

Several companies experienced significant price swings. Notably, two firms hit all-time lows during the session.

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• Top Decliners: Perfect Presentation for Commercial Services Company PJSC (TADAWUL:7204) fell 5.85% to an all-time low of 5.63. It was closely followed by Arabian Centres Co (TADAWUL:4321), which dropped 5.76%, and Arabian Contracting Services Company CJSC (TADAWUL:4071), which declined 5.12% to also reach an all-time low.
• Top Gainers: Bucking the negative trend, AYYAN Investment Co SJSC (TADAWUL:2140) surged 8.82%. Other strong performers included Scientific and Medical Equipment House Company CJSC (TADAWUL:4014), up 5.80%, and Arabian Company for Agricultural and Industrial Investment SCJSC (TADAWUL:2287), which gained 5.21%.

Commodity and Currency Markets

The slump in Saudi equities coincided with a significant drop in global energy prices. Crude oil for November delivery fell over 3%, while the international benchmark, Brent oil, also saw a similar decline. Gold futures contracts also edged lower.

In the foreign exchange market, the Saudi riyal remained stable against major currencies. The EUR/SAR and USD/SAR pairs were largely unchanged, while the US Dollar Index Futures showed a marginal gain of 0.03%.