Tadawul Shares End Wednesday Higher as US Fed Takes Spotlight

08:28 AM EDT, 10/28/2026 (MT Newswires) -- The Tadawul All Share Index closed the Wednesday trading session higher at 0.37% in the green as markets await the US Federal Reserve's highly anticipated interest rate decision later in the day. The Fed is expected to hold the interest rate stable at its 3.75% to 4% range. Markets are also looking forward to US Fed Chair Kevin Warsh's comments for clues on the group's next policy move. "In the US, the main event of the week is this evening's FOMC rate decision and the following press conference. We expect the Fed to keep policy rates unchanged, in line with consensus, while markets price in a 10% probability of a hike. Most central FOMC members have signalled that they can wait until December before hiking again, although a few see more urgency, and we expect 2-3 dissenting votes in favour of a hike. We still see a need for further tightening and expect two more hikes, in December and March," Danske Bank said in a note. Also boosting sentiment is news regarding Qatar's submission of a new draft to Iran regarding a deal to end the US/Israel-Iran conflict, Reuters reported, citing an official. The agreement includes a seven-day timeline that would address the concerns of the involved countries. Back at home and on the corporate front, Ades Holding (SASE:2382) will continue to deploy its rig for an additional year after a client exercised its option to extend its offshore drilling services contract. Shares of the drilling services company closed 5.74% higher. In earnings news, The National Shipping Co. of Saudi Arabia (SASE:4030), d/b/a Bahri, and Quara Finance Co. (SASE:9596) reported higher attributable net profit and revenue for the three months ended Sept. 30. Both stocks closed 1.64% and 4% in the green, respectively.