Saudi Arabia stocks lower at close of trade; Tadawul All Share down 2.65%

Saudi Arabia's stock market closed lower on Sunday, with the Tadawul All Share index falling by 2.65% to reach a five-year low. The Retail, Industrial Investment, and Building & Construction sectors were the main drivers of the decline, as losses in these sectors impacted the overall market performance. Watani Iron Steel Co (TADAWUL:1325) was the top performer, gaining 6.37% or 0.16 points to trade at 2.67 at the close.

AL Alaziziah REIT Fund Unit (TADAWUL:4337) and Dr Sulaiman Al Habib Medical Services Group Company (TADAWUL:4013) also saw gains, each increasing by 2.99% or 0.11 points to 3.79 and 213.00, respectively. Halwani Brothers Co SJSC (TADAWUL:6001), Raoom Trading Company SJSC (TADAWUL:4144), and Saudi Enaya Cooperative Insurance (TADAWUL:8311) were among the worst performers, with losses of 10.00%, 9.99%, and 9.98%, respectively.

Falling stocks outnumbered advancing ones by a ratio of 318 to 21, with nine stocks ending unchanged. Crude oil prices for December delivery rose by 3.99%, reaching $103.44 per barrel, while Brent oil for January delivery increased by 0.18% to $111.70 per barrel. Gold Futures contracts for December declined by 1.24%, trading at $4,010.00 per troy ounce.

The EUR/SAR exchange rate fell by 0.13% to 4.20, while USD/SAR remained unchanged at 3.75. The US Dollar Index Futures experienced a slight decrease of 0.05%, settling at 101.60.