The main market index, known as TASI, concluded its trading session on Thursday with a slight decline of 0.2 percent. The index closed at 11,238 points, representing a drop of 22 points from the previous close. Total trading volume for the session reached approximately 5.1 billion riyals. During the day, the index fluctuated between a high of 11,294 points and a low of 11,236 points.
Major Stocks Lead Declines
Several leading companies contributed to the downward pressure on the market. Shares of Al Rajhi Bank fell by 1 percent, closing at 68.30 riyals. Trading activity for the bank was significant, with nearly 7 million shares changing hands, resulting in a total transaction value exceeding 470 million riyals.
Other prominent names also saw their values decrease. Shares of Ma’aden, the national mining company, dropped by 1 percent to close at 69.70 riyals. Similarly, ACWA Power shares declined by 1 percent, ending the session at 195.40 riyals. These declines in blue-chip stocks were a primary factor in the overall market contraction.
Wider Market Losses
Beyond the major indices, a broader range of equities experienced losses. Several companies finished their trading sessions with declines ranging between 2 and 4 percent. These included Asics, Al-Katheeri, Arabia Bupa, MIS, Kimanool, Al-Khalijia General Insurance, and Al-Ittihad. The widespread nature of these drops indicates a cautious sentiment across various sectors of the economy.
Gainers Stand Out
In contrast to the general downturn, a select group of stocks managed to post gains. Nisaj emerged as the top performer among rising companies, surging by the maximum allowed limit of 10 percent. Other notable gainers included Awnah, Nice One, and Takaful Al Rajhi, all of which advanced by more than 5 percent. These positive movements provided some offset to the broader market losses but were not sufficient to reverse the daily trend.
The trading session reflected a mixed environment where investor caution weighed heavily on large-cap stocks, while specific smaller or sector-specific entities saw increased buying interest. The total turnover of 5.1 billion riyals suggests moderate liquidity levels during the session. Analysts note that the performance of key institutions like Al Rajhi Bank often sets the tone for the broader market direction, and today’s decline in its share price mirrored the negative sentiment observed across other major listings.
As the market closes, attention turns to upcoming economic data and corporate announcements that may influence trading activity in the coming sessions. The divergence between the heavyweights dragging the index down and the individual stocks achieving significant gains highlights the selective nature of current market dynamics. Investors are closely monitoring whether the support levels held by the major indices will stabilize the market or if further corrections are likely in the near term.
This story was produced in the newsroom from the disclosed sources named above.
