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Saudi Arabia’s Tadawul All Share Index rose 0.28% on Sunday, fueled by surges in real estate and insurance stocks. Top performers included Buruj Cooperative Insurance, up nearly 10%, while Arriyadh Development reached 5-year highs.
Energy and Real Estate Sectors Lead Gains
After the market closed on Sunday, Saudi Arabian equities rose, with gains seen in the energy and utilities, real estate development, and insurance sectors driving the market higher.
At the close of business in Saudi Arabia, the Tadawul All Share experienced a gain of 0.28%, Investing.com reports.
At the end of the trading day on the Tadawul All Share, BURUJ COOPERATIVE INSURANCE CO had the greatest performance, rising 9.96%, or 1.82 points, to trade at 20.10. Wataniya Insurance Company rose 8.00%, or 1.72 points, to 23.22 in late trade, while Arriyadh Development Co. gained 9.34%, or 2.95 points, to finish at 34.55.
Losses Persist in Key Companies
Trading at 0.48 at session's end, Al Baha Investment and Development Company SJSC was the session's poorest performance, falling 4.00%, or 0.02 points. With an end price of 99.20%, Saudi Cable Company fell 2.94%, or 3.00 points, while Almarai Company fell 2.46%, or 1.40 points, to 55.50.
There were 182 rising stocks and 121 falling stocks on the Saudi Arabia Stock Exchange at the end of trading, with 28 stocks remaining constant.
Arriyadh Development Hits 5-Year High
Gaining 9.34%, or 2.95 percent, to 34.55 percent, Arriyadh Development Co. shares reached 5-year highs.
February delivery crude oil prices increased 0.92 percent, or 0.64 cents, to $70.26 per barrel. Aside from that, in the commodities market, March Brent oil at $73.79 per barrel remained constant at 0.00%, and the February gold futures contract at $2,636.50 per troy ounce declined 0.66 percent, or 17.40 dollars.
The EUR/SAR exchange rate increased by 0.26% to 3.91, while the USD/SAR exchange rate remained constant at 3.75.
The US Dollar Index Futures reached 107.79, representing a decrease of 0.09%.
