Saudi Tadawul Index Hits 3-Month Low on Broad Sector Declines

Saudi Arabia's benchmark stock index fell to a new three-month low on Tuesday, as broad-based selling pressure hit key sectors. The Tadawul All Share index declined by 0.80% at the close of trading, according to market data.

Market Performance

The session was marked by significant negative market breadth, with 227 stocks falling compared to only 92 advancing issues, while 19 remained unchanged. The downturn was primarily led by weakness in the Financial Services, Transport, and Industrial Investment sectors, which dragged the broader market lower.

This performance indicates negative investor sentiment across the Riyadh exchange, even as global energy markets showed strength.

Notable Stock Movers

Several individual companies experienced significant price movements during the session. The day's worst-performing stocks included:

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• MBC Group CJSC (TADAWUL:4072): -4.35%
• Banque Saudi Fransi (TADAWUL:1050): -3.85%
• Umm Al Qura for Development and Construction Company SCJSC (TADAWUL:4325): -3.77%

Despite the market decline, a few stocks bucked the trend. Red Sea Housing Services Company (TADAWUL:4230) was a top gainer, surging 9.96%, while Arabian Company for Agricultural and Industrial Investment SCJSC (TADAWUL:2287) rose 9.95%.

Broader Market Context

The drop in Saudi equities occurred despite a rally in oil prices. Brent crude, the international benchmark, rose 4.18% to trade at $86.78 a barrel for September delivery. In currency markets, the USD/SAR pair remained stable around 3.76, consistent with the kingdom's currency peg, while the US Dollar Index Futures fell 0.61%.