JEDDAH: The Tadawul All-Share Index (TASI) reflecting a large downward curve yesterday dropped 70.38 points or 1 percent to close in the red territory at 6,960.65 points. The index slipped into red territory earlier yesterday and plunged to a maximum of 129 points during the day.
All market cap indices ended the day in the downward district.
Sectoral performance was also negative, with 13 sectors paring an aggregate of 745 points for the day. In turn, Insurance and Agriculture sectors have been unharmed by the day's trading, showing a nominal collection of 12.7 points jointly.
Real Estate Development came out as the biggest loser of the day, down 2.08 percent or 75.7 points to close at 3,570.15. Transport sector followed it, declining 1.85 percent for the day. Banking sector also lost 143.3 points or 0.92 percent from its previous level.
Most of heavy weights closed in red, with Kingdom Holding dipping by 2.34 percent, Samba Financial Group 1.97 percent, SABB 1.92 percent and market leader SABIC (Saudi Basic Industries Corp.) 1.64 percent.
Only Saudi Telecom Co. remained green among large cap issues, advancing by 0.25 percent to close the day at SR 40.
The market breadth was in favor of bears as out of 154 stocks only 27 were able to close higher.
Insurance stocks continued to dominate the market performance, filling the top gainer and loser charts consecutively. Amana Cooperative Insurance continued to show a tremendous performance for the third straight day, marching higher by 9.53 percent further.
Tadawul volume with trades over 224.6 million shares remained 48.2 percent greater than previous level but still it was ten percent lower than 50-day average.
Tadawul dips but volume improves
Tadawul dips but volume improves
Closing Bell: Saudi benchmark index closes lower at 10,540
RIYADH: Saudi equities ended Wednesday’s session lower, with the Tadawul All Share Index falling 55.13 points, or 0.52 percent, to close at 10,540.72.
The sell-off was mirrored across other indices, with the MSCI Tadawul 30 Index retreating 5.79 points, or 0.41 percent, to close at 1,393.32, while the parallel market Nomu slipped 74.56 points, or 0.32 percent, to 23,193.21.
Market breadth remained firmly negative, as decliners outpaced advancers, with 207 stocks ending the session lower against just 51 gainers on the main market.
Trading activity moderated compared to recent sessions, with volumes reaching 123.5 million shares, while total traded value stood at SR2.72 billion ($725.2 million).
On the sectoral and stock level, Al Moammar Information Systems Co. led the gainers after surging 9.96 percent to close at SR172.30, extending its rally following a series of contract announcements tied to data center and IT infrastructure projects.
Al Masar Al Shamil Education Co. climbed 4.89 percent to SR27.48, while Naqi Water Co. advanced 3.36 percent to SR58.50. Al Yamamah Steel Industries Co. and Al-Jouf Agricultural Development Co. also posted solid gains, rising 3 percent and 2.86 percent, respectively.
Losses, however, were concentrated in industrial names. Saudi Kayan Petrochemical Co. fell 3.67 percent to SR4.73, while Makkah Construction and Development Co. slid 3.44 percent to SR80.
Saudi Tadawul Group Holding Co. retreated 3.28 percent to SR147.50, weighed down by broader market weakness, and Saudi Cable Co. declined 3.18 percent to SR143.
Alkhaleej Training and Education Co. rounded out the top losers, shedding just over 3 percent.
On the announcement front, BinDawood Holding announced the signing of a share purchase agreement to acquire 51 percent of Wonder Bakery LLC in the UAE for 96.9 million dirhams, marking a strategic expansion of its food manufacturing footprint beyond Saudi Arabia.
The acquisition, which remains subject to regulatory approvals, is expected to support the group’s regional growth ambitions and strengthen supply chain integration.
BinDawood shares closed at SR4.68, up 0.43 percent, reflecting a positive market reaction to the overseas expansion move.
Meanwhile, Al Moammar Information Systems disclosed the contract sign-off for the renewal of IT systems support licenses with the Saudi Central Bank, valued at SR114.4 million, inclusive of VAT.
The 36-month contract is expected to have a positive financial impact starting from fourth quarter of 2025, reinforcing MIS’s position as a key technology partner for critical government institutions. The stock surged to the session’s limit making it the top gainer.
In a separate disclosure, Maharah Human Resources confirmed the completion of the sale of its entire stake in Care Shield Holding Co. through its subsidiary, Growth Avenue Investments, for a total consideration of SR434.3 million.
The transaction involved the transfer of 41.36 percent of Care Shield’s share capital to Dallah Healthcare, with Maharah receiving the full cash proceeds.
Despite the strategic divestment, Maharah shares closed lower, ending the session at SR6.12, down 1.29 percent.
