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Saudi Arabia stocks posted lower during the course of the session on Tuesday, led by losses in the Transport, Industrial Investment and Petrochemical sectors.

The Tadawul All Share slipped 0.38% at the close in Saudi Arabian trading.

Among the best performers amid session on the Tadawul All Share were Saudi RE Cooperative Reinsurance, which added about 10.76% or 0.85 points to changed hands at 8.75 in late trade. Al-Ahlia Insurance Company rose 5.93% or 0.40 points to settle at 7.15 and Saudi Dairy and Foodstuff Co. gained 3.59% or 4.25 points to end at 122.50 at the close.  

Meanwhile, Saudi Company for Hardware is among the worst performers amid session, which declined by about 2.81% or 2.75 points to changed hands at 95.25 in late trade. Saudi Industrial Export Co dipped 2.54% or 0.90 points to settle at 34.50 and National Gypsum Company lost about 2.44% or 0.35 points to 14.00 at the close.  

Declining stocks outnumbered rallying ones on the Saudi Arabia Stock Exchange with a range between 101 to 41 and 28 remained unchanged.

Saudi RE Cooperative Reinsurance stock advanced to 52-week highs, which added 10.76% or 0.85 to 0.75.

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Crude oil for March delivery increased 0.74% or 0.39 to end at $53.32 per barrel. Elsewhere in commodities trading, Brent oil for April delivery was up by 0.90% or 0.50 points to reached $56.09 per barrel, while the Gold Futures contract for April edged higher by 0.62% or 7.55 to changed hands at $1233.35 a troy ounce.  

EUR/SAR rose 0.24% to 3.9840, while USD/SAR remained steady at 0.00% to 3.7504.

The US Dollar Index Futures declined 0.22% at 100.78 at the close.

Kuwait Outperforms GCC Markets in January

Gulf stocks resulted mixed in January with Kuwait outperforming the region in a bullish tone in the wake of revealing the economic development plans, while the UAE was included on the investors’ watch list within the region equities portfolio due to its diversified economy and positive valuations.   

Subsequently, global and emerging markets dropped after U.S. President Donald Trump ordered a travel ban on seven countries within one week, which instantly weigh on equities globally. 

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“I think Trumpanomics is the theme of the month," analyst Chiradeep Ghosh said last week.

“Obviously the impact of policies on oil and money flow to emerging markets are the main factors that will guide investors.” 

Conclusion

Given Trump’s policies it is certain that the potential impact of U.S. protectionist also measures on global trade.

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