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Data from the Saudi Exchange showed the Tadawul All Share Index declined 172 points or 1.7 percent to end the session at 9952 points on Tuesday, marking its lowest close since April 2021. The benchmark fluctuated between an intraday low of 9941 points and a high of 10116 points amid trading volume that totaled 3.8 billion riyals. This drop pushed the index’s losses since the beginning of the year to 540 points, equivalent to 5.1 percent, according to market compilations by Argaam.
Several blue-chip stocks led the declines, with Saudi Aramco shares falling 1 percent to close at 25.48 riyals and Al Rajhi Bank easing a similar margin to 60.15 riyals. Yansab plunged nearly 7 percent while SABIC Agri-Nutrients and Bank Albilad each retreated 3 percent to 109.80 riyals and 21.47 riyals respectively after reporting third-quarter results. Additional losses hit shares of Etihad Etisalat, Banque Saudi Fransi and Yamama Cement, which gave up between 1 and 3 percent.
Foreign investors turned net sellers of Saudi equities, offloading more than $227 million in the most recent week as part of $1.9 billion in outflows since early September, an AGBI analysis found. A series of Houthi attacks on oil infrastructure, airports and other targets across the kingdom since August has heightened security risks and eroded the market’s appeal as a regional safe haven. Reuters noted that Gulf bourses stayed subdued overall, with a tanker incident in the Strait of Hormuz and questions over its reopening adding to investor caution.
Brent crude futures hovered near $108 per barrel after settling at their highest level since May earlier in the period, reflecting concerns over potential supply disruptions even as some profit-taking occurred following U.S. sanctions waivers on Russia. The energy sector felt the mixed effects of elevated oil prices that usually bolster the Saudi economy alongside broader risk aversion tied to Red Sea shipping threats. Trading Economics figures placed the index 13.8 percent lower than its level from the same period a year earlier.
The close represented the first time the benchmark has traded below 10000 points since 2023, multiple financial reports confirmed. This performance follows a pattern of volatility sparked by renewed regional conflicts involving Iran-backed groups and disruptions to key maritime routes. The parallel Nomu index also registered losses, though detailed figures remained limited in initial tallies.
