Saudi Arabia Stocks Slide as Tadawul All Share Index Hits New 6-Month Low
Saudi Arabia stocks ended lower after the close on Sunday, driven down by losses in various sectors. At the close of trading, the Tadawul All Share Index dropped 1.31%, marking a new six-month low.
Best Performers of the Session
The standout performer was Al Taiseer Group TALCO Industrial Company SCJSC, whose shares skyrocketed by an astonishing 100,000.00% or 49.20 points to close at 49.20. Meanwhile:
- Al Moammar Information Systems Co CJSC surged 7.24% or 11.00 points, ending at 163.00.
- Saudi Cable Company climbed 5.51% or 3.70 points to finish at 70.80.
Worst Performers of the Session
In contrast, Saudi Manpower Solutions Co experienced a significant drop, falling 8.51% or 0.77 points to trade at 8.28. Other notable declines included:
- International Company for Water and Power Projects (ACWA Power), down 5.31% or 18.60 points to 331.80.
- Miahona Holding SCJSC, which decreased 5.19% or 1.18 points to 21.56.
Broader Market Reaction
The downward trend saw falling stocks outnumber advancing ones on the Saudi Arabia Stock Exchange.
Commodity Market Movements
In the commodities market, crude oil for August delivery dipped 0.17% or 0.13 to $78.05 per barrel. Similarly, Brent oil for August delivery edged down 0.10% or 0.08 to settle at $82.67 per barrel. Conversely, the August Gold Futures contract gained 1.31% or 30.40 to trade at $2,348.40 per troy ounce.
Forex Market Movements
In the forex market, EUR/SAR fell by 0.38% to 4.01, while USD/SAR remained largely unchanged with a slight 0.01% change to 3.75. The US Dollar Index Futures slipped 0.04% to 105.17.
End of Report
Note: This article is for informational purposes only. Always do your own research before making any investment decisions.
