Saudi Stocks Fall to 6-Month Low on Broad Sector Weakness

Saudi Arabia's primary stock market index, the Tadawul All Share (TASI), declined significantly at Tuesday's close, falling 1.17% to reach a new six-month low. The drop reflects broad-based negative sentiment, with falling stocks heavily outnumbering advancing ones.

Market Performance

The benchmark index's slide was driven by widespread losses across key economic sectors. According to closing data, the Industrial Investment, Cement, and Energy & Utilities sectors were among the primary drivers of the downturn.

Market breadth confirmed the bearish sentiment on the Saudi Arabia Stock Exchange, with 279 companies seeing their share prices fall, compared to only 48 advancers. An additional 17 stocks closed the session unchanged.

Notable Movers

Despite the overall market decline, a few stocks posted strong gains. The session's top performers included:

Ad

• Knowledge Economic City (TADAWUL:4310), which surged 10.00% to a five-year high of 22.11.
• Saudi Enaya Cooperative Insurance (TADAWUL:8311), adding 4.61% to close at 9.53.
• Arabian Drilling Co (TADAWUL:2381), which gained 4.59% to end at 95.70.

Conversely, several companies experienced sharp declines. The biggest laggards included Abdullah Saad Mohammed Abo Moati for Bookstores Company SJSC (TADAWUL:4191), which fell 8.06% to a 52-week low of 32.40, and East Pipes Integrated Company for Industry (TADAWUL:1321), which dropped 7.98%.

Broader Market Context

The weakness in Saudi equities coincided with a downturn in global energy markets. Crude oil prices, a critical driver for the Saudi economy, were lower, with November WTI futures down approximately 2.3% and December Brent crude futures falling around 1.85% during the session.

In currency markets, the Saudi riyal remained stable against the U.S. dollar, with the USD/SAR pair unchanged at 3.75. Meanwhile, the US Dollar Index Futures, which measures the dollar against a basket of major currencies, ticked up slightly by 0.13%.