Saudi Stocks Hit One-Month Low as Tadawul All Share Index Falls 0.77%

Saudi Arabia's benchmark stock index declined on Thursday, hitting a one-month low as widespread selling pressure dragged down multiple sectors. The Tadawul All Share Index (TASI) closed down 0.77%, according to data from the Saudi Exchange.

Sector Drags and Market Breadth

The slide was led by significant losses in the Media & Publishing, Cement, and Building & Construction sectors. The market's negative sentiment was widespread, as reflected in the day's trading breadth. Falling stocks significantly outnumbered advancing ones on the exchange by a margin of 219 to 107, with 15 issues ending the session unchanged.

This broad-based decline indicates that investor concerns were not limited to a single industry, contributing to the index's weakest close in a month.

Notable Stock Movements

The day's worst performers saw steep declines, with some hitting new record lows. Key movers included:

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• Saudi Fisheries Co. (TADAWUL:6050) was the session's biggest decliner, falling 9.96%.
• Al Sorayai Trading & Industrial Group (TADAWUL:1213) dropped 7.54% to reach an all-time low.
• Arabian Contracting Services Company CJSC (TADAWUL:4071) also fell to an all-time low, decreasing by 4.04%.

On the positive side, Raydan Co. (TADAWUL:6012) and Tabuk Agriculture Development Co. (TADAWUL:6040) were the top gainers, rising 9.96% and 9.90% respectively.

Commodities and Currency Context

The stock market's decline occurred even as energy prices, a key driver for the Saudi economy, moved higher. Crude oil futures for November delivery rose 1.75% to $93.77 a barrel, while the international benchmark Brent crude gained 1.98% to $105.12 a barrel.

In currency markets, the Saudi riyal remained stable against the U.S. dollar, with the USD/SAR pair unchanged at 3.75. The US Dollar Index Futures, which measures the greenback against a basket of major currencies, advanced 0.20%.