Saudi Arabia Stocks Rise, Led by National Metal Manufacturing and Saudi Arabian Mining

Summary

  • On Sunday, Saudi Arabian stocks saw an increase as the sectors of , and, drove stocks higher.
  • A new 52-week high was achieved by the with a 0.30% gain at the Saudi Arabia’s market close.
  • National Metal Manufacturing and Saudi Arabian Mining Company were among the top performers with significant gains.
  • Al Sorayai Trading&Industrial Group, East Pipes Integrated Company for Industry and City Cement Co were the session’s poorest performers.
  • On the exchange, rising stocks outnumbered declining ones by 201 to 75.
  • February crude oil saw a 0.61% reduction, meanwhile, Brent oil for March delivery fell by 0.10%.
  • February Gold Futures contract fell 0.56% or 11.70 to trade at $2,071.80 a troy ounce.
  • EUR/SAR was down 0.25% to 4.14, while USD/SAR remained unchanged at 3.75.

Increased Performance of Saudi Stocks

On Sunday, stocks in Saudi Arabia showed an upward trend, primarily driven by gains in the , and sectors. Following the close, Saudi Arabia’s market indices portrayed a strong performance.

The achieved a new 52-week high, recording a 0.30% gain at the close in Saudi Arabia. Exceptional performance was seen from National Metal Manufacturing Co. (TADAWUL:), which managed to rise by 9.97% or 1.80 points to finally settle at 19.86.

Top Performers and Losers

Additionally, the Saudi Arabian Mining Company (TADAWUL:) exhibited a 9.97% or 4.40 points increase, ending at 48.55. Amiantit Co. of Saudi Arabia (TADAWUL:) also saw a rise, up by 9.85% or 5.40 points, ending at 60.20 in late trade.

Contrarily, the lowest performers in the session included Al Sorayai Trading&Industrial Group (TADAWUL:), whose shares fell 4.34% or 2.80 points to land at 61.70 at the closure. East Pipes Integrated Company for Industry (TADAWUL:), dropped 1.69% or 1.40 points, settling at 81.50 while City Cement Co (TADAWUL:) saw a 1.43% or 0.30 point drop, settling at 20.74.

Commodity Trading

In the commodities front, February crude oil was down by 0.61% or 0.44, landing at $71.33 a barrel. Simultaneously, Brent oil for March delivery took a 0.10% or 0.08 hit to finally settle at $77.07 a barrel. The February Gold Futures contract experienced a decrease, falling 0.56% or 11.70 to trade at $2,071.80 for a troy ounce.

Forex Impacts

Furthermore, in the Forex market, EUR/SAR declined by 0.25% to 4.14, while reding of USD/SAR remained unchanged at 0.00% to 3.75. The US Dollar Index Futures rose by a minor 0.15% at 101.06. The shifting market trends and economic indicators in Saudi Arabia have the potential to significantly influence Forex trading and could impact various assets.

PIP Penguin
Logo