Tadawul All Share Gains 1.10% as Tourism and Real Estate Stocks Rally

Saudi Arabia's benchmark stock index, the Tadawul All Share (TASI), advanced 1.10% to close Monday's trading session on a positive note. The gains were broad-based, defying a sharp downturn in global crude oil prices.

Broad-Based Gains Drive Market Higher

The rally was led by strong performances in the Hotels & Tourism, Real Estate Development, and Energy & Utilities sectors, according to data from Investing.com. Market breadth was overwhelmingly positive, with 252 stocks rising compared to just 59 declining, while 27 issues ended the session unchanged.

This widespread buying interest suggests positive investor sentiment driven by domestic factors, outweighing concerns from the international commodities market.

Notable Stock Movements

Several individual stocks saw significant price movements during the session. The day's top performers included:

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• National Company for Learning and Education SJSC (TADAWUL:4291), which surged by its daily limit of 10.00%.
• Rabigh Refining & Petrochemical Co (TADAWUL:2380), which added 9.98% to reach a three-year high.
• Saudi Industrial Export Co (TADAWUL:4140), climbing 8.62%.

On the other end of the spectrum, Al Hassan Ghazi Ibrahim Shaker (TADAWUL:1214) was among the biggest decliners, falling 6.35% to a three-year low.

Commodity and Currency Backdrop

The equity market's gains came despite significant pressure on oil prices. WTI Crude oil futures for September delivery fell 6.83% to $78.89 a barrel, while Brent oil for October delivery dropped 5.73% to $82.89 a barrel. Gold futures also edged down slightly.

In the foreign exchange market, the Saudi Riyal remained stable against major currencies, with the USD/SAR pair unchanged at 3.76. The US Dollar Index Futures saw a minor decline of 0.09%, indicating slight weakness in the greenback.