54 companies in TASI record their lowest historical price, and the index declines
The Saudi stock market (TASI) witnessed a sharp decline during trading on Sunday, with a detailed analysis by Okaz newspaper revealing that 54 listed companies recorded their lowest price levels since their initial public offering. These declines come amidst selling pressure that impacted the overall index's performance, reflecting a state of price volatility that has affected broad sectors of the market.
The general index declined and broke through support levels
At the start of trading, the main market index, TASI, recorded a significant decline, falling to 10,195 points, a drop of approximately 514 points, equivalent to a decrease of 4.8%. This point level is considered pivotal in the index's technical analysis, as breaking the 10,200-point barrier indicates the dominance of a short-term downtrend, pushing many leading, small, and mid-cap stocks to new lows.
Analysis of affected sectors: from insurance to cement
Looking at the list of companies that recorded historic lows, the diversity of affected sectors is evident, indicating that the downturn was widespread and not limited to any one sector. The insurance sector, the real estate investment trust (REIT) sector, and the cement sector emerged as the hardest hit. The presence of companies like Al-Jouf Cement, Najran Cement, and Riyadh Cement on the list reflects pressure on the basic materials sector, while the decline of companies like Riyadh REIT points to the impact on the investment real estate sector.
List of companies that recorded the lowest historical low
The following is the complete list of the 54 companies monitored by Okaz that have recorded the lowest share price since listing, ranked from lowest price:
- Ban: 1.64 Riyals
- United Insurance: 2.67 Riyals
- Industrial means: 2.75 riyals
- Riyadh REIT: 4.70 riyals
- Composition: 4.98 Riyals
- Amanah Insurance: 5.00 Riyals
- Al-Jawf Cement: 5.44 riyals
- Aseeg: 5.70 riyals
- Kemanol: 5.95 riyals
- Najran Cement: 6.03 Riyals
- Printing and packaging: 6.19 riyals
- Toby: 6.21 riyals
- Sports clubs: 6.33 riyals
- CGS: 6.60 Riyals
- Burgerizer: 7.12 Riyals
- Flexible: 8.52 riyals
- Leva: 9.52 riyals
- Al-Nayefat: 11.05 riyals
- Ready: 11.49 Riyals
- Nice One: 12.25 Riyals
- Farm Markets: 12.32 Riyals
- Herfy Food: 13.14 Riyals
- Wires: 15.10 Riyals
- Redan: 17.95 riyals
- Al-Umran: 19.34 riyals
- Saco: 21.01 riyals
- Riyadh Cement: 22.10 Riyals
- OGC: 22.40 Riyals
- UCIC: 23.23 Riyals
- Production: 24.00 Riyals
- Modern Mills: 24.90 Riyals
- MBC Group: 25.60 Riyals
- Equipment House: 26.00 Riyals
- Fakieh Medical: 27.20 Riyals
- Talco: 28.00 riyals
- Facilities: 28.42 Riyals
- Dheeb: 30.00 riyals
- Lumi: 35.30 Riyals
- Arabian Mills: 35.70 Riyals
- Tamkeen: 44.00 Riyals
- Development: 44.60 riyals
- First Mills: 45.60 Riyals
- Construction station: 46.10 riyals
- Medicine: 46.30 riyals
- The mine: 47.98 riyals
- Raoum: 52.00 riyals
- Flynas: 53.50 Riyals
- Nutritional development: 82.10 riyals
- Facilitation: 125.00 Riyals
Investors are awaiting the upcoming market closes to see if these prices represent attractive investment opportunities to enter, or if selling pressures will continue to push prices to lower levels, amid close monitoring of global and local financial indicators.
