Riyadh, Saudi Arabia — The Saudi stock market continued its downward trend on July 29, with the Tadawul All Share Index (TASI) falling 61.41 points to close at 10,823.91, a 0.56% decline. The dip was led by sustained pressure in speculative and large-cap names, as market sentiment remained cautious.
TASI Daily Report July 29: Market Snapshot
TASI opened at 10,894.36 and briefly touched a high of 10,898.61 before retreating to a low of 10,791.22. The index closed near session lows, with total trading volume at 302.33 million shares and value reaching SAR 4.41 billion across 487,715 trades. Market capitalization slipped to SAR 8.99 trillion, with 259 companies traded.
Top Gainers:
- Baan: +8.70% (SAR 2.50) – 21.47M shares
- Amlak: +6.08% (SAR 12.04) – 2.81M shares
- Maadaniyah: +2.28% (SAR 17.50) – 711K shares
- Zain KSA: +1.96% (SAR 10.43) – 4.64M shares
- Jazadco: +1.90% (SAR 10.73) – 43K shares
Losers:
- TECO: −10.00% (SAR 0.99) – 77.39M shares
- Arabian Drilling: −9.98% (SAR 77.55) – 881K shares
- UCIC: −7.48% (SAR 31.42) – 850K shares
- Jamjoom Pharma: −4.38% (SAR 161.40) – 115K shares
- Gulf General: −4.16% (SAR 5.07) – 468K shares
Tadawul Most Active Stocks July 29
By Volume:
- TECO: 77.39M shares – 10.00% (SAR 0.99)
- Sport Clubs: 42.76M shares – 1.52% (SAR 11.02)
- Baan: 21.47M shares – +8.70% (SAR 2.50)
- Americana: 11.64M shares – +1.81% (SAR 2.25)
- Saudi Aramco: 9.47M shares – +0.04% (SAR 24.17)
By Value:
- Sport Clubs: SAR 486.71M – 1.52% (SAR 11.02)
- Al Rajhi Bank: SAR 255.59M – 0.69% (SAR 93.50)
- Saudi Aramco: SAR 228.32M – +0.04% (SAR 24.17)
- STC: SAR 171.51M – +0.33% (SAR 42.26)
- Alinma: SAR 153.76M – −0.70% (SAR 25.68)
Sector Momentum and Key Trends
TECO hit the lower limit for a second straight session, dragging market sentiment as speculative traders took a defensive stance. Arabian Drilling also saw steep losses, likely due to valuation concerns following recent rallies. Meanwhile, Baan continued to outperform on strong volume, and Amlak attracted retail interest with a 6% gain. Activity in heavyweights such as Aramco, Al Rajhi, and STC remained muted, contributing to the broader market’s inability to recover. Persistent pressure on mid-caps and speculative stocks signals ongoing caution among traders.
THE SAUDI STANDARD’S VIEW: Market Caution on July 29 Reflects Valuation Discipline, Not Structural Weakness
The Saudi stock market’s 0.56% decline on July 29, with the Tadawul All Share Index (TASI) closing at 10,823.91, signals a near-term correction driven by heightened investor selectivity amid speculative excess and earnings recalibration, rather than any fundamental deterioration in market integrity.
- Market softness was led by speculative names like TECO and Arabian Drilling, with steep single-session losses reflecting valuation pullbacks after extended rallies. These moves suggest investors are rotating away from momentum-driven trades toward more defensible fundamentals.
- While trading volume remained robust at 302 million shares, muted activity in heavyweight stocks such as Saudi Aramco, Al Rajhi, and STC points to a temporary risk-off posture, not a systemic retreat, consistent with broader macro stability and resilient corporate earnings.
- Standout performers such as Baan and Amlak signal that value-seeking retail capital remains active, particularly in niche growth plays and underpriced sectors, validating continued liquidity depth and market confidence in selective opportunities.
- The broader 5.3% YTD increase in TASI (as of July 28) continues to anchor the market’s upward trend, despite tactical corrections tied to speculation unwinding, IPO flows, and portfolio rebalancing.
This moment of market consolidation should be read as a reflection of investor maturity and pricing discipline. As Vision 2030 fuels sectoral expansion, economic resilience, and regulatory transparency, the Saudi stock market remains fundamentally aligned with long-term growth, even as near-term sentiment recalibrates to align with evolving valuation narratives.
