Saudi Arabia’s Tadawul All Share Index fell 0.16% for the week ended Oct. 8, but the kingdom’s stock market value rose 101.2 billion riyals as Aramco and higher energy shares offset broader selling pressure.
Saudi TASI Falls 0.16% as Aramco Supports Market
The benchmark TASI lost 16.69 points to close at 10,376.28, marking a fifth straight weekly decline and underscoring how geopolitical worries and oil-market caution continue to weigh on Saudi equities. Even so, the market capitalisation of listed shares climbed to 9.224 trillion riyals from 9.123 trillion riyals a week earlier, a divergence that points to support from heavyweight stocks rather than a broad-based rebound.
Sentiment Indicators
Aramco was the main support. The stock rose 1.82% to 25.74 riyals and ranked second in weekly liquidity at 1.35 billion riyals, while the energy sector gained 1.66% for the week. That helped cushion losses elsewhere after investors pared exposure ahead of third-quarter earnings and as concerns persisted over oil prices and regional instability.
The damage was concentrated in banking and consumer-facing names. Banks fell 1.71%, media and entertainment dropped 1.52%, and telecoms slipped 0.33%. By contrast, food production rose 3.88%, while basic materials added 1.01%, showing a narrow rotation into defensive and commodity-linked sectors.
Trading activity also cooled. Weekly turnover fell 6.25% to 17.37 billion riyals, and volume dropped 6.27% to 882.22 million shares, suggesting investors are waiting for clearer catalysts rather than chasing the index higher. Retail and speculative flows were mixed, with Tasheel and Budget Saudi among the weakest performers, while Hadeed and بحر العرب posted sharp gains.
Technically, Aramco held above both its 50-day and 200-day moving averages, with its relative strength index in mid-range territory, indicating the stock remains supported even as momentum eases. For the broader market, reclaiming 10,400 points is the near-term threshold traders are watching, especially with third-quarter results due and oil prices still moving against a backdrop of elevated geopolitical risk.
| Entity | Gains | Losses |
|---|---|---|
| Aramco | ▲Higher share price, liquidity support | ▼Bears broad market pressure |
| Energy sector | ▲Weekly sector gain | ▼Weakness in banks and telecoms |
| Saudi market cap | ▲101.2 billion riyal increase | ▼Negative weekly TASI performance |
| Banks and cyclicals | ▲— | ▼Investor selling, risk aversion |
