Riyadh, Saudi Arabia — The Saudi stock market declined on July 28, with the Tadawul All Share Index (TASI) falling 70.90 points to close at 10,885.32, representing a 0.65% decrease. Heavy losses led to the sell-off in speculative stocks, particularly TECO, which posted its sharpest single-day drop in weeks.

TASI Daily Report July 28: Market Snapshot

TASI opened at 10,943.19 and briefly touched a high of 10,977.37 before retreating to an intraday low of 10,885.32 — where it also closed. The total volume reached 546.78 million shares, with a traded value of SAR 4.61 billion across 475,270 transactions. Market capitalization fell to SAR 9.01 trillion as 259 companies were traded.

 

Top Gainers:

  • Sport Clubs: +9.92% (SAR 11.19) – 50.57M shares
  • SHL: +6.47% (SAR 23.85) – 2.06M shares
  • ACIG: +6.13% (SAR 11.43) – 1.52M shares
  • Riyadh Cables: +4.73% (SAR 135.10) – 290K shares
  • SACO: +3.00% (SAR 28.84) – 99K shares

Losers:

  • TECO: −9.84% (SAR 1.10) – 300.58M shares
  • BSF: −5.26% (SAR 16.92) – 3.83M shares
  • Raydan: −4.07% (SAR 13.66) – 169K shares
  • AlAseel: −3.93% (SAR 3.91) – 991K shares
  • Northern Cement: −3.89% (SAR 8.16) – 730K shares

 

Tadawul Most Active Stocks July 28

 

By Volume:

  • TECO: 300.58M shares – 9.84% (SAR 1.10)
  • Sport Clubs: 50.57M shares – +9.92% (SAR 11.19)
  • Baan: 19.79M shares – −3.77% (SAR 2.30)
  • BATIC: 17.89M shares – +0.86% (SAR 2.34)
  • Saudi Kayan: 11.19M shares – 0.22% (SAR 4.59)

 

By Value:

  • Sport Clubs: SAR 552.67M – +9.92% (SAR 11.19)
  • TECO: SAR 341.65M – −9.84% (SAR 1.10)
  • Al Rajhi Bank: SAR 227.23M – 0.79% (SAR 94.15)
  • Saudi Aramco: SAR 208.82M – +0.21% (SAR 24.16)
  • STC: SAR 169.28M – 0.24% (SAR 42.12)

 

Sector Momentum and Key Trends

The day’s trading was marked by a dramatic reversal in TECO, which had dominated gains in prior sessions but dropped nearly 10% amid intense selling pressure. In contrast, Sport Clubs surged to the upper limit, becoming the highest gainer and top value mover. Defensive names, such as Riyadh Cables and SHL, also attracted buyers. However, weakness in banks, led by BSF, and a pullback in industrials contributed to the market’s overall decline. Volatility in speculative stocks continues to dictate short-term sentiment.

 

THE SAUDI STANDARD’S VIEW: Market Volatility Validates Need for Capital Market Maturity

The 0.65% decline in the Tadawul All Share Index (TASI) on July 28, led by speculative sell-offs in names such as TECO, reflects the growing pains of an increasingly active, retail-driven market. Yet, within this volatility lie signs of advancing market depth and increased investor engagement.

  • TECO’s 9.84% drop, despite prior strong gains, underscores the challenges of speculative momentum in thinly capitalized stocks. It highlights the urgency for robust investor education, market discipline, and stronger oversight as part of the CMA’s broader capital market development agenda.
  • In contrast, the surge in Sport Clubs shares, along with steady gains in names like SHL and Riyadh Cables, demonstrates investor interest in diversified sectors, including lifestyle, insurance, and infrastructure, which align with Vision 2030’s diversification goals.
  • The decline in banking and industrial stocks, including BSF and Northern Cement, signals short-term caution in core economic sectors. However, fundamentals in these segments remain intact, with recent earnings and dividend actions suggesting long-term resilience.
  • Trading volumes exceeding 546 million shares and a value of SAR 4.6 billion demonstrate sustained liquidity and investor participation—a key pillar of a dynamic capital market.

While daily fluctuations are inevitable, the path forward must focus on aligning retail enthusiasm with institutional frameworks that promote transparency, protect investors, and enhance capital formation. Saudi Arabia’s transformation agenda is ultimately anchored in deeper, more stable financial markets that support sustainable growth and economic leadership.