Overview:
The Saudi stock market ended lower on Friday, with the TASI benchmark declining 1.02% to settle at 9921.50 points. Trading volume reached 254 million shares across 265 listed companies, with only 53 posting gains while 212 recorded losses. Total transaction value amounted to 4 billion riyals, marking a broad-based decline across the market.
Details:
Among the day's movers, shares of Al Khaleejia General Company, the Saudi Group, CGS, Al Ahli Gulf Union Company, and Saleh Al Rashid showed the strongest performance, while equities in printing and packaging, MEFIC REIT and other firms led declines. The pullback reflects investor caution amid regional and global economic uncertainty.
In commodity markets, crude oil prices rose more than 2 percent Friday evening, with December-delivery Brent crude climbing 2.76 dollars to 117.64 dollars per barrel, marking its highest settlement since late April. West Texas Intermediate crude gained 2.12 dollars to 104.12 dollars per barrel. On a monthly basis, Brent crude has recorded gains of 13.6 percent, while U.S. crude advanced 15.2 percent. Gold prices, meanwhile, declined 2.7 percent to 3,910.53 dollars per ounce in spot trading, as rising oil and inflation concerns lifted expectations for higher U.S. interest rates.
Outlook:
Investors are monitoring U.S. Federal Reserve signals on rate decisions in December as inflation data continues to influence commodity valuations. Geopolitical developments and global economic momentum remain focal points for equity direction in the near term.