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Tadawul All Share Edges Higher on Sector Strength Despite Broad Declines
Saudi Arabia's benchmark Tadawul All Share Index (TASI) ended Tuesday's session with a slight gain, closing up 0.10%. The advance was primarily driven by positive performance in the Industrial Investment, Retail, and Cement sectors, according to market data.
A Mixed Session
Despite the index's modest rise, market breadth was negative. Data from the Saudi Exchange showed that declining stocks significantly outnumbered advancing ones, with 201 companies ending lower compared to 125 that gained. An additional 30 stocks closed the session unchanged.
Among the session's top performers were:
- Banan Real Estate Company SJSC (4324), which surged 8.02% to close at 3.50.
- Saudi Industrial Development Co. (2130), adding 6.01% to end at 17.29.
- Najran Cement Company (3002), which rose 5.53% to finish at 5.92.
AdOn the other end of the spectrum, National Gypsum Company (2090) was a notable decliner, falling 3.57% to 12.70, a price that marked a 5-year low for the stock. Other significant losers included Saudi vitrified clay pipes co. (2360), down 2.78%, and Saudi Arabia Refineries Co. (2030), which shed 2.60%.
Commodity and Currency Markets
The slight uptick in Saudi equities occurred as energy prices showed strength. Crude oil futures for October delivery were up 1.67% to trade at $93.01 a barrel. Brent oil for November delivery also rose, gaining 1.01% to $97.98 a barrel.
In currency markets, the USD/SAR pair remained stable at 3.76. Meanwhile, gold futures for December delivery saw a decline, falling 0.80% to $4,440.96 a troy ounce.
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