Saudi Tadawul Index Hits 1-Month Low on Broad Sector Sell-Off

Saudi Arabia's benchmark stock index, the Tadawul All Share, closed lower on Tuesday, falling to its lowest level in a month amid a broad-based decline led by weakness in key non-oil sectors.

Market Performance

The Tadawul All Share index finished the session down 0.89%, according to data from Investing.com. The decline was characterized by significant market weakness, with falling stocks outnumbering advancing ones by a wide margin of 289 to 46, while 13 remained unchanged.

The losses were most pronounced in the Media & Publishing, Building & Construction, and Industrial Investment sectors, indicating that investor sentiment soured on sectors tied to the domestic economy.

Notable Stock Movers

Several individual stocks experienced significant moves, highlighting the day's negative trend. The session's worst performers included:

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• LIVA Insurance Co (TADAWUL:8280), which fell 6.25%.
• Amana Cooperative Insurance Co (TADAWUL:8310), declining 4.92%.
• Bawan (TADAWUL:1302), which was down 4.79%.

In contrast, a few companies bucked the downward trend. Saudi Aramco Base Oil Company JSC (TADAWUL:2223) was a top performer, rising 3.89%. Other gainers included Americana Restaurants International PLC (TADAWUL:6015) and Arab National Bank (TADAWUL:1080), which added 1.66% and 1.56%, respectively.

Commodity and Currency Context

The equity market's decline occurred even as energy prices, a critical driver for the Saudi economy, posted gains. Crude oil futures for October delivery rose over 1% to trade at $102.45 per barrel, while Brent oil for November delivery also edged higher.

In foreign exchange markets, the Saudi riyal remained stable against the U.S. dollar, with the USD/SAR pair unchanged at 3.76, reflecting its currency peg. The broader U.S. Dollar Index Futures, which measures the dollar against a basket of currencies, advanced 0.23%.