Tadawul All Share Index Slips to 6-Month Low on Broad Sector Declines

Saudi Arabia's benchmark stock index closed lower on Wednesday, with the Tadawul All Share (TASI) falling 0.14% to a new six-month low. The decline was driven by broad-based selling pressure, particularly in foundational economic sectors.

Session in Detail

Weakness in the Building & Construction, Insurance, and Cement sectors led the market's descent, according to data from the close of trade. Market breadth was negative, with declining stocks significantly outnumbering advancers on the Saudi Arabia Stock Exchange by a margin of 210 to 112, while 27 stocks finished the session unchanged.

Several companies hit notable lows. Shares in Retal Urban Development Company SJSC (TADAWUL:4322) fell to a 52-week low, declining 5.87%. Red Sea International Company SJSC (TADAWUL:4230) dropped 4.76% to reach a 5-year low.

Top Movers

Despite the overall market downturn, a few stocks posted significant gains. The top performers included:

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• Saudi Enaya Cooperative Insurance (TADAWUL:8311): +9.97%
• Armah Sports Co SCJSC (TADAWUL:6022): +9.93%
• Almoosa Health Co (TADAWUL:4018): +6.13%

The session's biggest decliners were led by National Medical Care Company (TADAWUL:4005), which fell 6.94%.

Broader Market Context

The index's fall occurred even as energy prices, a key driver for the Saudi economy, moved higher. Brent crude for December delivery rose 1.63% to $97.73 a barrel, while West Texas Intermediate (WTI) crude for November delivery was up 1.24% at $90.49 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, was down 0.32%.