Market Overview#
Saudi Arabia's stock market experienced a positive close on Wednesday, with the Tadawul All Share Index rising by 0.11%. This increase was supported by strong performances in the Petrochemicals, Real Estate Development, and Multi Investment sectors.
Top Performers#
Among the standout stocks, Retal Urban Development Company saw a significant gain of 4.34%, closing at 13.93. Emaar The Economic City followed closely with an increase of 4.20%, ending the day at 9.18. The National Company for Glass Industries also performed well, rising by 3.02% to close at 37.58.
Notable Declines#
On the other hand, some stocks faced challenges. Jazan Development Company experienced the largest drop, losing 8.86% to trade at 8.23. The Power and Water Utility Company for Jubail and Yanbu fell by 7.08%, closing at 29.92, while Saudi Arabian Cooperative Insurance saw a decline of 7.00%, ending at 9.04.
Market Statistics#
Overall, the number of declining stocks outpaced those that rose, with 220 stocks declining compared to 105 that gained, while 24 stocks remained unchanged on the Saudi Stock Exchange. In commodities, crude oil prices rose significantly, with April delivery up 4.30% to $87.04 per barrel, and Brent oil for May delivery increasing by 4.31% to $91.58 per barrel. Meanwhile, gold prices fell by 1.11% to $5,184.06 per troy ounce. Currency exchange rates remained stable, with the Euro to Saudi Riyal at 4.35 and the US Dollar to Saudi Riyal at 3.75.