Tadawul Declines as Select Stocks Buck the Trend
The Saudi stock market witnessed an active trading session on Thursday as the Tadawul All Share Index closed at 11,109.59, reflecting a decline of 1.20% for the day. Despite the broad market retreat, several individual stocks posted notable gains, drawing significant investor interest.
Saudi Darb emerged as the top gainer on the main market, climbing 8.06% to close at 2.28 riyals. The stock attracted substantial trading volume, with more than 51 million shares changing hands during the session. Petro Rabigh followed closely, rising 6.88% to finish at 11.50 riyals, while Baan added 6.06% to reach 2.10 riyals.
Sector Performance and Market Activity
The day’s trading generated a total value of approximately 6.03 billion riyals across a volume of 331.37 million shares. The market saw 45 stocks advance while 212 declined, indicating broad-based selling pressure across multiple sectors.
Among the sectors, capital goods and banks showed relative resilience. The capital goods index posted a gain of 2.25%, while banks rose 2.04%. The food and beverages sector also performed well, adding 1.84%. On the other side of the ledger, several sectors faced headwinds as profit-taking activity weighed on prices.
Market Outlook and Fund Performance
Saudi equity funds continued to attract attention, with the Argaam Saudi Equity Funds Index closing at 4,153.17, up 0.36%. Several funds posted strong year-to-date returns, led by the SNB Capital Emerging Markets Index Fund with a 28.16% gain in US dollar terms.
Market participants are watching upcoming corporate earnings announcements and project updates for signals on near-term direction. Analysts note that while short-term volatility remains, the underlying fundamentals of the Saudi economy continue to support long-term investment interest in the Kingdom’s capital markets.
