The Saudi stock market's main index (TASI) ended trading with a notable decline, losing 119.22 points, or 1.07%, to close at 11,039.23 points. The market saw active trading with a total value of SAR 6.6 billion, reflecting a cautious and watchful stance among investors.
Daily market performance details
According to official data from the Saudi Stock Exchange (Tadawul), the trading volume during the session reached approximately 289 million shares. The performance of most listed companies was predominantly negative, with 203 companies experiencing a decline in share price, while only 57 companies managed to post gains. This wide disparity between declining and rising stocks indicates widespread selling pressure in the market.
General context and importance of the Saudi market
The Saudi stock market is the largest in the Middle East and North Africa region, and its performance is considered a key indicator of the health of the Saudi and Gulf economies in general. These declines come amid a volatile global market environment influenced by multiple factors, including oil prices, interest rate decisions by major central banks such as the US Federal Reserve, and geopolitical tensions. Given the Saudi economy's heavy reliance on the energy sector, any fluctuations in global oil prices directly impact investor sentiment in the Tadawul All Share Index (TASI).
Top performing stocks
In terms of company performance, shares of companies such as Al-Aqar, Masik, Al-Masar Al-Shamel, Eastern Pipes, and Petro Rabigh stood out among the top gainers. Conversely, shares of companies like SASCO, Saleh Al-Rashed, OGC, ACWA Power, and Redan were among the biggest losers, with price changes ranging between a gain of 6.27% and a loss of 9.98%.
In terms of trading activity, Americana, Saudi Aramco, Anabeeb, Petro Rabigh, and Al Rajhi Bank topped the list of most actively traded companies by volume. However, in terms of value, Al Rajhi Bank, Saudi Aramco, ACWA Power, SABIC, and Al Ahli Bank led the way, confirming the continued concentration of liquidity on leading and heavily weighted stocks within the index.
Parallel market performance (growth)
In contrast to the main market, the parallel market index (Nomu) closed higher, adding 159.48 points to reach 22,794.54 points. Trading value on Nomu reached SAR 528 million, with a trading volume exceeding 11 million shares, which may indicate that some investors are turning to small and medium-sized enterprises (SMEs) in search of alternative growth opportunities.
