The Saudi Stock Exchange's index (TASI) ended trading on Sunday with a notable decline, closing down 1% at 10,416 points. The session saw selling pressure that impacted the overall index's performance, amidst total trading volume of approximately SAR 2.39 billion, reflecting a cautious and watchful stance among traders at the start of the week.
Trading session details and liquidity movement
According to data released by the Saudi Stock Exchange (Tadawul), the session saw trading volumes of 135.8 million shares, while the total market capitalization of the index reached approximately SAR 8.803 trillion. This performance comes at a time when global and local financial markets are anticipating several economic developments that could influence investor sentiment.
Regarding company performance, red dominated trading screens, with 234 companies closing lower, indicating a widespread decline across most sectors. In contrast, only 30 companies out of the 266 listed on the market managed to close in positive territory.
Top performing and worst performing stocks
Despite the overall decline, some companies recorded positive performance, with the following stocks topping the list of the highest gainers:
- Flynas
- Amak
- exports
- motherly
- Saudi Cables
Conversely, the following stocks were the most affected and topped the list of decliners:
- Integrated Company (Integrated)
- abundance
- CGS
- Sports bridle
- Saudi Research and Media Group
Parallel market performance (growth)
The parallel market (Nomu) fared no better than the main market, with its index closing down 0.8% at 23,244 points. Trading value in Nomu reached approximately SAR 17.11 million, with 2.8 million shares traded, while the market capitalization of the parallel market stood at SAR 42.26 million.
In detail, regarding the performance of companies listed on the parallel market, the shares of 62 companies declined, while the shares of only 24 companies rose out of 126 listed companies, reflecting the parallel market’s alignment with the general trend of the main market.
The economic importance of the Saudi stock market
The movements of the Saudi stock market of particular importance given its status as the largest financial market in the Middle East and North Africa region in terms of market capitalization and liquidity. The Tadawul All Share Index (TASI) serves as a true reflection of the health of the Saudi economy, especially the non-oil sector, which the Kingdom prioritizes within the objectives of Vision 2030.
The Saudi financial market has witnessed significant developments in recent years, including its inclusion in emerging market indices such as MSCI and FTSE Russell. This has contributed to attracting foreign capital inflows and increasing market depth. The market plays a pivotal role in providing necessary financing for major companies and projects, making any fluctuations in the index a focus of attention for economic analysts and investors. Performance is influenced by multiple factors, including oil prices, global interest rates, and the financial results of leading companies.
