The stock market in Saudi Arabia experienced a decline at the close of Tuesday’s trading session, with notable dips occurring in several major sectors.
As trading concluded, the Saudi stock benchmark index suffered a loss of 1.64%.
Among the top performers was Red Sea Housing Services Company, which saw its shares jump 10.00% or 3.00 points, finishing at 33.00. Also making gains, Etihad Atheeb Telecommunication climbed 6.57% or 7.20 points to close at 116.80, while Saudi Steel Pipe Company advanced 4.59% or 3.50 points to end at 79.80.
On the flip side, Advanced Petrochemical Company witnessed a significant drop of 5.30% or 2.40 points to close at 42.90. Al ELM Information Security Company CJSC also suffered a decline, falling 4.70% or 45.60 points to 924.40, and Sahara International Petrochemical Company SJSC decreased by 4.25% or 1.45 points to 32.70.
On the broader market front, declining stocks outpaced advancers on the Saudi Arabia Stock Exchange, with 226 stocks ending lower, 64 closing higher, and 12 remaining unchanged.
Notably, Red Sea Housing Services Company’s shares surged to 52-week highs, gaining 10.00% to 33.00. Etihad Atheeb Telecommunication also reached a 5-year peak, appreciating by 6.57% to 116.80.
Commodity markets saw crude oil for May delivery decrease by 0.34% to $85.12 a barrel. Concurrently, Brent oil slated for June delivery fell 0.36% to $89.78 a barrel. Contrasting the downward trend in oil, the June Gold Futures contract ascended by 0.40%, trading at $2,392.55 a troy ounce.
In currency markets, the EUR/SAR pair edged higher by 0.21% to 3.99, while the USD/SAR pair remained steady at 3.75.
The US Dollar Index Futures was marginally down by 0.09%, landing at 105.90 at the close of trading.