Saudi Arabia Stocks Rise, Led by Bank Albilad and Leejam Sports

Summary

  • Saudi Arabia’s stock market experienced an increase after closing on Monday, with the sectors playing a significant role.
  • The index saw an elevation of 1.05%, reaching a fresh three-month peak.
  • Key performers were BANK ALBILAD, Leejam Sports Company, and Riyadh Cables Group Company.
  • While Sinad Holding Co, Raydan Co, and AL-BABTAIN POWER &TELECOM CO performed poorly.
  • Oil prices for February fell, and gold futures for the same month rose.
  • EUR/SAR and USD/SAR rates were stable, as the US Dollar Index Futures slightly fell.

Saudi Arabia Stocks Close on High Note

Saudi Arabia’s stock market saw an ascent following Monday’s closing, backed by positive gains in the sectors. The shares reached new heights due to these advancements.

Index Performance

The index within Saudi Arabia escalated by 1.05%, achieving a novel three-month high.

Top Performers

In the session, Leejam Sports Company SJSC experienced a notable increase of 4.49% or 8.80 points, closing at 204.80. Riyadh Cables Group Company CJSC similarly saw growth, moving up 3.33% or 3.00 points to 93.00 in late trading.

Underachievers

Not all stocks saw success, however. Sinad Holding Co’s shares dropped 1.54% or 0.20 points to 12.78 at close. Raydan Co and AL-BABTAIN POWER &TELECOM CO also saw a decline, falling 1.50% or 0.40 points and 1.28% or 0.35 points to 26.30 and 27.00 respectively.

Despite the underperforming shares, those on the rise on the Saudi Arabia Stock Exchange outnumbered the declining ones with 170 to 103, with 28 remaining steady.

Commodities and Currencies

Commodities trading saw a fall in February’s crude oil by 0.54% or 0.40 to $73.49 a barrel. On the contrary, the February Gold futures contract rose 0.64% or 13.20 to $2,064.50 a troy ounce.

Concerning currency rates, EUR/SAR remained steady with a minor 0.01% change to 4.13, while USD/SAR was unchanged at 3.75. The US Dollar Index Futures saw a 0.12% fall to 101.36.

All these fluctuations, whether positive or negative, can significantly affect trading, especially in commodities such as oil, gold, and various forex markets. Depending on how these assets perform, investors can anticipate possible gains or losses.

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