Saudi Arabia's equity market finished lower on Sunday, with the Tadawul All Share shedding 1.89% at the close as sector weakness in Cement, Industrial Investment and Real Estate Development pushed the index down.
Session highlights
The session's top-performing stock was The Mediterranean&Gulf Insurance Co (TADAWUL:8030), which rose 7.33% or 0.99 points to finish at 14.50. Al Aseel Co Ltd (TADAWUL:4012) gained 2.97% or 0.11 points to close at 3.81, and Middle East Pharmaceutical (TADAWUL:4016) advanced 2.60% or 2.90 points to end trading at 114.60.
On the downside, Al Masane Al Kobra Mining Company CJSC (TADAWUL:1322) fell 9.93% or 11.60 points to close at 105.20, Saudi Arabian Mining Company (TADAWUL:1211) declined 9.51% or 7.35 points to finish at 69.95, and Saudi Industrial Development Co. (TADAWUL:2130) was down 6.18% or 0.77 points to end at 11.68.
Market breadth favored declines: 277 issues lost ground, 64 advanced and 14 finished unchanged on the Saudi Arabia Stock Exchange.
Commodities and currencies
In commodities trading, crude oil for March delivery slipped 0.32% or 0.21 to trade at $65.21 a barrel. Brent oil for April delivery was down 0.03% or 0.02 to $70.69 a barrel. The April Gold Futures contract fell 11.39% or 609.70 to trade at $4,745.10 a troy ounce.
On the currency front, EUR/SAR moved down 1.00% to 4.44, while USD/SAR was essentially unchanged, listed as 0.01% to 3.75. The US Dollar Index Futures strengthened, rising 0.75% to 96.86.
What this means
The session displayed clear sector rotation, with traditional heavyweights in mining and industrials among the worst performers and select insurers and pharmaceuticals bucking the trend. Trading breadth and the relative performance of commodities and the dollar provide the immediate market backdrop, while individual stock moves drove much of the headline index change.
Note: This report reflects the closing prices and session data reported for the Tadawul All Share and related instruments on the stated trading day.