Argaam reported that 50 companies and real estate investment trusts hit 52-week lows during the session, showing intense selling pressure across heavyweights and operational equities alike.
TASI Closes Down as 50 Equities Hit 52-Week Lows
- TASI closed the Tuesday session down 1.69%, shedding 171.56 points to finish at 9,952.06 after touching multi-year lows.
- A total of 50 equities and REITs dropped to their lowest prices in 52 weeks, with stocks like Saudi Research and Media Group (SRMG) down 76% over the period.
- Trading liquidity remained heavily concentrated in large caps, led by Al Rajhi Bank (TADAWUL: 1120) and Saudi Arabian Oil Co. (TADAWUL: 2222), as institutional investors await Q3 earnings catalysts.
Market Liquidity and Large-Cap Divergence Amid the Selloff
The broader market retreat caught multiple bellwether listings under intense downward momentum. According to Argaam’s tracking data, Al Rajhi Bank traded down to an intraday low of 59.55 SAR, representing a 17% contraction over the trailing 52-week window. Concurrently, Etihad Etisalat Co. (Mobily) (TADAWUL: 70b0) slipped to 57.55 SAR, marking a 12% decline from its yearly peak.
Despite the breach below the psychological 10,000 mark, TASI managed to claw back a portion of its intraday losses before the closing bell. Heavyweight liquidity insulated part of the damage. Al Rajhi Bank pulled in transactions exceeding 387.6 مليون ريال, while Saudi Aramco attracted approximately 301.9 مليون ريال in active turnover.
| Company / Fund | 52-Week Low Price (SAR) | 52-Week Trailing Performance |
|---|---|---|
| Saudi Research and Media Group | 44.60 | (76%) |
| Gulf Training and Education | 11.55 | (58%) |
| Al Rajhi Bank | 59.55 | (17%) |
| Etihad Etisalat (Mobily) | 57.55 | (12%) |
| الرياض | 18.90 | (9%) |
Macroeconomic Variables Dampen Risk Appetite
The downward slide reflects compounding macroeconomic and regional variables dampening risk appetite.
While localized industrials and tech-adjacent operations like Al-Azm managed modest gains of 3.86% to 30.66 SAR during the session, the broader trajectory remains bound to systemic sentiment.
Third-Quarter Disclosures Will Determine TASI Support Levels
Market participants are now turning their attention entirely to third-quarter financial disclosures to gauge whether corporate balance sheets can justify current valuation multiples.
Whether TASI can successfully build a durable base above 9,950 points depends on upcoming revenue reports from major energy and petrochemical firms.
