Saudi Tadawul Index Slips to One-Month Low Amid Energy Sector Losses

Saudi Arabia's Tadawul All Share Index (TASI) ended Thursday's session marginally lower, declining 0.02% to close at a new one-month low. The slight downturn was driven by significant losses in the Energy, Multi-Investment, and Petrochemicals sectors, which outweighed broader positive performance across the exchange.

Market Performance Details

Despite the benchmark index's decline, market breadth was positive, with 165 stocks advancing compared to 158 decliners, while 19 issues ended the session unchanged, according to data from the Saudi Stock Exchange. This suggests that the index's negative performance was primarily influenced by losses in a few heavily weighted sectors rather than widespread market weakness.

The decline came as global oil prices, a key driver for the Saudi economy and its stock market, faced downward pressure. Brent crude for November delivery fell 3.15% to $102.50 a barrel, while WTI crude for October delivery was down 2.31% to $100.06 a barrel.

Sector and Stock Movers

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Several companies experienced significant price movements, with some hitting new record lows. The session's worst performers included:

• Musharaka REIT (TADAWUL:4335), which fell 6.43% to an all-time low of 3.20.
• Takween Advanced Industries (TADAWUL:1201), which declined 5.44% to also hit an all-time low of 4.00.
• Armah Sports Co SCJSC (TADAWUL:6022), which was down 5.03%.

In contrast, the healthcare and pharmaceutical sectors showed strength. The top performers were led by:

• Saudi Pharmaceutical Appliances (TADAWUL:2070), which surged 8.78%.
• National Medical Care Company (TADAWUL:4005), adding 4.27%.
• Jamjoom Pharmaceuticals Factory Company SJSC (TADAWUL:4015), up 3.92%.