Saudi Arabia Stocks Rise at Market Close; Tadawul All Share Up 1.14%

Saudi Arabian stocks closed higher on Tuesday, driven by gains in various sectors. The main index rose by 1.14%, reaching a new three-month high.

The standout performers included Red Sea Housing Services Company, which surged by 9.95%, adding 6.20 points to finish at 68.50. Saudi Fisheries Co. also saw a significant increase, rising 9.85% or 2.31 points to close at 25.75. Additionally, ACWA Power experienced a 6.57% gain, up 27.60 points to finish at 448.00.

On the downside, Maharah for Human Resources fell 5.37%, losing 0.41 points to end at 7.22. Retal Urban Development Company SJSC dropped 2.81%, down 0.42 points to 14.52, while Dar Alarkan Real Estate Development declined by 2.64%, losing 0.40 points to close at 14.74.

Overall, advancing stocks edged out decliners on the Saudi Stock Exchange, with 144 issues rising and 140 falling, while 24 remained unchanged.

Crude oil prices rose, with November delivery up 2.15% to $71.88 a barrel. Brent oil for December increased by 1.91%, reaching $74.61 a barrel. The December Gold Futures contract traded flat, with a slight increase of 0.00% to $2,652.60 per troy ounce.

In currency trading, the euro rose by 0.17% against the Saudi riyal, while the US dollar remained stable. The US Dollar Index Futures saw a slight decline of 0.14%, settling at 100.42.