Saudi Arabia Stocks Drop, Etihad Atheeb and Real Estate Shares Surge

Summary

Saudi Arabia stocks witnessed a drop after Sunday’s close due to losses in certain sectors. The leading performers were Etihad Atheeb Telecommunication, Al Baha Investment, and Development Company SJSC, and Saudi Real Estate Co. The laggards were Astra Industrial Group, Tihama Advertising&Public Relations, and Bawan. Crude oil and Brent oil rose, while EUR/SAR dipped and USD/SAR saw no change.

Saudi Stock Market Performance

Saudi Arabia’s stocks saw a slump after Sunday’s trading session, dragged down by losses in several sectors. The stocks closed the day with a dip of 0.46%.

Stock Trading Session Standouts

In the session, Etihad Atheeb Telecommunication (TADAWUL:) came out on top, gaining 9.19% or 15.80 points and closing at 187.80. In tandem, Al Baha Investment and Development Company SJSC (TADAWUL:) and Saudi Real Estate Co. (TADAWUL:) fared well, gaining 7.14% and 4.22% respectively.

The Bottom Performers

The worst performers were Astra Industrial Group (TADAWUL:), which dipped 6.36%, Tihama Advertising&Public Relations (TADAWUL:) which declined 5.37%, and Bawan (TADAWUL:) that was down by 3.76%.

Market Statistics

In the Saudi Arabia Stock Exchange, there were more losing stocks than gaining ones (205 to 75) while 16 remained static.

Commodity and Currency Markets

Crude oil and Brent oil experienced a rise, while the February Gold Futures contract also rose. The EUR/SAR currency pair witnessed a slight drop, whereas USD/SAR remained stable. The US Dollar Index Futures saw an increase of 0.14% landing at 102.17.

The fluctuations in the Saudi stock market can potentially have an impact on forex trading, especially on the USD/SAR and EUR/SAR currency pairs, due to the economic linkage between these regions.

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