Saudi equity markets closed in positive territory on Wednesday as sector-specific gains pushed the benchmark higher. The Tadawul All Share index finished the session up 0.67%, marking a new one-month high for the gauge.
Advances were led by several mid- and large-cap names across insurance, petrochemicals and industrial investment-oriented companies. Marketing Home Group for Trading Co (TADAWUL:4194) recorded the largest percentage increase on the index, rising 8.97% - a gain of 4.90 points - to finish the day at 59.50. Real estate developer Al Ramz Real Estate Company SJSC (TADAWUL:4327) gained 6.42%, adding 4.15 points to close at 68.75; the stock reached an all-time high in the session. In the insurance segment, Bupa Arabia for Coop. Insurance (TADAWUL:8210) climbed 5.64%, or 8.80 points, to end at 164.80.
Not all names shared in the advance. The session’s largest declines were posted by Consolidated Grunenfelder Saady Holding Co (TADAWUL:4147), which fell 4.27% - a drop of 0.45 points - to close at 10.10. Al Aseel Co Ltd (TADAWUL:4012) slipped 4.01% or 0.16 points to finish at 3.83, while National Gypsum Company (TADAWUL:2090) declined 3.10%, losing 0.51 points to settle at 15.92.
Market breadth was mixed, with falling stocks outnumbering advancers: 175 issues declined versus 159 that rose, and 22 stocks finished unchanged. The divergence between the headline index performance and the greater number of declining issues underscores a market where a subset of stronger performers lifted the index despite broader weakness among individual listings.
On the commodity front, energy and precious metals posted gains in the same session. Crude oil for March delivery rose 0.64%, or $0.40, to trade at $62.79 a barrel. Brent crude for April delivery advanced 0.50%, up $0.33, to $66.92 a barrel. April gold futures increased by 3.54%, a rise of $181.34, to reach $5,301.94 a troy ounce.
Currency pairs involving the Saudi riyal showed limited movement. The euro traded lower against the riyal, with EUR/SAR down 0.45% to 4.49, while the USD/SAR pair was unchanged at 3.75. The US Dollar Index Futures was slightly softer, down 0.03% at 96.03.
Market takeaway - The Tadawul All Share’s 0.67% gain to a one-month high was driven by a handful of strong performers, particularly in insurance and real estate, even as a larger number of issues declined. Energy and gold prices moved higher in the same session, while currency pairs involving the riyal were broadly stable.