Saudi Stock Market Slides to Lowest Close Since 2021

The Saudi stock market ended its trading session on Sunday, October 25, with a significant decline. The main index, the Tadawul All Share Index (TASI), dropped 257.36 points, or 2.65%, to close at 9,438.50 points. According to CNBC Arabia, this marks the index’s lowest closing level since 2021.

Broad-Based Decline Across the Market

The session was characterized by a widespread sell-off. According to the Saudi Press Agency (SPA), 257 companies saw their shares decline, while only nine managed to post gains. Total trading value on the main market reached approximately 4.3 billion Saudi riyals, with a volume of 339 million shares exchanged.

Despite the overall downturn, a few stocks managed to buck the trend. Watani Iron Steel shares rose by 6.37%, and the AL Aziziah REIT real estate fund gained 2.99%. Conversely, Halwani Bros shares fell by 10%, joining several other titles among the session’s biggest decliners.

The decline also extended to the parallel Nomu market, which primarily serves smaller companies. Its index dropped 383.42 points, or 1.79%, to finish at 21,043.74 points, with trading volume valued at approximately 14 million riyals.

Market Implications

This session highlights the significant pressures currently weighing on Saudi equities. For listed companies and investors, key indicators to monitor include the index’s trajectory, the balance between advancing and declining stocks, and trading volumes, all of which help gauge the overall market sentiment. However, it is important to note that a single trading session alone is insufficient to determine the root causes of the decline or to predict future market trends.