Saudi Arabia’s stock market finished lower on Sunday. Losses across several sectors dragged the market down.
Media, consumer services, and utilities stocks led the decline. By the close, the Tadawul All Share Index was down 1.04%.
Most stocks ended in the red. Falling shares heavily outnumbered gainers. Nearly 300 stocks declined, while just over 50 moved higher. Only a handful finished unchanged.
A few names still managed to stand out.
Flynas was the top performer of the day. Its shares jumped 5.08% and closed at 64.10. Al Masane Al Kobra Mining also had a strong session, rising 4.76% to end at 88.00. Saudi Industrial Export climbed the same percentage and closed at 2.20.
On the losing side, Mutakamela Insurance saw heavy selling. The stock dropped 8.35% to 10.54. That marked its lowest level in five years. Wafrah for Industry and Development fell 7.14% to 19.50, also hitting a five year low. Consolidated Grunenfelder Saady Holding declined 7.08% to 8.92.
Outside equities, oil prices moved sharply lower.
US crude for February delivery fell 2.76% and settled at $56.74 per barrel. Brent crude dropped 2.57% to $60.24.
Gold moved in the opposite direction. February gold futures rose 1.11% and traded at $4,552.70 per ounce.
Currency markets were mostly quiet. The euro against the Saudi riyal was flat at 4.42. The US dollar held steady at 3.75 riyals.
The US Dollar Index edged slightly higher, rising 0.02% to 97.70.
Overall, it was a rough session for Saudi stocks, with broad weakness outweighing a few isolated gains.
