Saudi stocks decline: Index closes at 10,540 with trading volume of 2.7 billion
The Saudi Stock Exchange's main index (TASI) closed lower today, declining 55.13 points to settle at 10,540.72 points. Trading was mixed, with total turnover reaching approximately SAR 2.7 billion, reflecting a cautious and watchful attitude among market participants.
Trading details and stock movement
According to the Saudi Press Agency's daily economic bulletin for the stock market, 123 million shares were traded today. The market witnessed a clear divergence in the performance of listed companies, with 51 companies seeing their market capitalization rise, indicating selective buying opportunities by investors despite the overall decline in the index. Conversely, 207 companies closed lower, putting downward pressure on the general index and pushing it into negative territory.
Top performing and worst performing companies
In terms of individual company performance, shares of Al Moammar Information Systems, Al Masar Al Shamel, Naqi, Al Yamamah Steel, and Al Jouf topped the list of gainers, achieving varying increases. Conversely, shares of Kayan Saudi, Makkah, Tadawul Group, Saudi Cable, and Gulf Training were the biggest losers, with gains and losses ranging between 9.96% and 3.67%.
Liquidity and leading companies
Leading and major companies captured the lion's share of investor attention, with shares of Americana, Saudi Kayan, Saudi Aramco, Al Masar Al Shamel, and Maharah being the most actively traded by volume. In terms of value, shares of Al Rajhi Bank, Saudi Aramco, Al Masar Al Shamel, Al Moammar Information Systems, and Alinma Bank topped the list. The activity of these leading companies, particularly in the energy and banking sectors, reflects their importance in driving the index and their direct impact on the sentiment of both local and foreign investors.
Parallel market performance (growth)
In a related development, the parallel market, Nomu, was not immune to the declines, with its index closing down 74.56 points at 23,193.21 points. Trading volume in the parallel market reached approximately SAR 33 million, with over 2.5 million shares traded. The parallel market is a vital platform for small and medium-sized enterprises (SMEs) and is generally affected by the same economic factors that impact the main market, albeit with a different degree of volatility.
General economic context
This decline comes as investors closely monitor global and local economic developments, with oil prices and monetary policies playing a pivotal role in shaping the direction of the Saudi stock market, the largest financial market in the Middle East and North Africa region. Despite daily fluctuations, the Saudi market remains a focus for investment portfolios due to the strength of the Saudi economy and the diverse opportunities offered by the Kingdom's Vision 2030.
