Saudi Stock Market Recovers as TASI Jumps 1.1 Percent
Saudi Arabia’s Tadawul All Share Index (TASI) rebounded on Sunday, gaining 1.09 percent after four consecutive sessions of declines. The index rose 112.87 points to close at 10,505.84, with trading activity totaling 109.01 million shares worth over SR2.26 billion ($602.7 million). The parallel market, Nomu, also saw gains, rising 0.84 percent to close at 21,248.86.
Market movers included Raydan Food Co., the top performer with a 9.97 percent increase in share price to SR18.97. Abdullah Saad Abu Moati for Bookstores Co. gained 7.69 percent to SR32.78, while Armah Sports Co. advanced 6.69 percent to SR65.35. On the losing side, Saudi Enaya Cooperative Insurance Co. fell 3.94 percent to SR10.24, and Saudi Aramco Base Oil Co. declined 2.58 percent to SR124.70.
Corporate disclosures highlighted significant developments. Al-Moammar Information Systems Co. received its first work order from Humain, valued at over 148 percent of its 2025 revenue. The project, beginning in the second quarter of 2026, is expected to expand further. Acwa and Saudi Electricity Co. announced financial close for the Rabigh 2 power plant expansion project, with financing secured from local, regional, and international lenders. The project, expected to impact financial results from 2029, includes a production capacity of 2,313.5 MW.
Natural Gas Distribution Co. won a license to establish a natural gas distribution network in Al-Kharj Industrial City, anticipating a positive impact on its financial results. Perfect Presentation for Commercial Services Co. (2P) secured a Shariah-compliant financing facility worth SR120 million from National Bank of Kuwait to support newly awarded projects.