Saudi Arabia Stocks Hit 6-Month Low; Tadawul All Share Down 1.31%
Riyadh, Saudi Arabia – The stock market in Saudi Arabia experienced a downturn on Tuesday, with the Tadawul All Share Index falling by 1.31%. This drop resulted in a new six-month low for the market, indicating a challenging day for investors.
Market Performance Overview
Several sectors faced heavy losses which pulled the overall market down. However, there were some bright spots amid the declines.
Top Performers
- Al Moammar Information Systems Co CJSC was the best performer of the day, seeing a significant rise of 7.24% or 11.00 points, closing at 163.00.
- Saudi Cable Company also performed well, adding 5.51% or 3.70 points to end at 70.80.
- CHUBB Arabia Cooperative Insurance saw an increase of 4.92% or 1.50 points, closing at 32.00.
Worst Performers
- Saudi Manpower Solutions Co suffered the most, falling by 8.51% or 0.77 points to 8.28, marking an all-time low.
- International Company for Water and Power Projects (ACWA Power) declined by 5.31% or 18.60 points, ending at 331.80.
- Miahona Holding SCJSC was down 5.19% or 1.18 points, closing at 21.56.
Commodity Market Movements
- Crude oil for August delivery decreased by 0.20% or 0.16, currently priced at $79.56 per barrel.
- Brent oil for August delivery fell slightly by 0.14% or 0.12, now at $84.13 per barrel.
- In contrast, August Gold Futures edged up by 0.21% or 4.95, trading at $2,333.95 per troy ounce.
Currency Exchange Rates
- EUR/SAR fell by 0.16%, making it 4.02.
- USD/SAR remained unchanged at 3.75.
The US Dollar Index Futures saw a slight increase of 0.04%, now at 104.99.
Summary
The Saudi stock market faced a tough session, with the Tadawul All Share Index dropping to levels unseen in six months. While some companies like Al Moammar Information Systems, Saudi Cable Company, and CHUBB Arabia Cooperative Insurance showed resilience, others like Saudi Manpower Solutions Co and ACWA Power experienced significant declines. Commodity markets showed mixed trends, with slight movements in oil and gold prices.
Stay tuned for more market updates and insights.
