Saudi Arabia stocks higher at close of trade; Tadawul All Share up 0.13%

Saudi Arabian stocks rose following the market's close on Wednesday, driven by increased activity in several key sectors such as Real Estate Development, Retail, and Hotels & Tourism. By the end of the day, the Tadawul All Share index had gained 0.13%, reaching its highest level in a month. Among the top gainers, AFG International Co experienced a significant surge of 9.96%, climbing 1.53 points to reach 16.89 at the market's close.

Methanol Chemicals Company and Tabuk Agriculture Development Co also saw notable gains, with a rise of 7.74% and 4.56% respectively, bringing their closing prices to 32.58 and 9.41. Conversely, Al Masane Al Kobra Mining Company suffered the most substantial decline, falling 4.35% to 80.30, followed by Power and Water Utility Company for Jubail and Yanbu, which dropped 3.57% to 41.00, and Saudi Aramco Base Oil Company, down 2.55% to 134.00.

In contrast to the rising trend, 163 stocks declined compared to 152 that rose, with 23 remaining unchanged. Crude oil prices for October delivery experienced a slight decrease of 0.10% or 0.08, settling at $83.98 per barrel. Similarly, Brent oil for the same month fell by 0.05% or 0.05 to $90.97 a barrel, while the December Gold Futures contract saw a rise of 1.23% or 54.52, trading at $4,475.12 per troy ounce.

The exchange rate for EUR/SAR increased by 0.48% to 4.36, while USD/SAR remained stable at 3.75 with no change. The US Dollar Index Futures experienced a decline of 0.49% at 99.07.