Business · Markets · 1 day ago
Saudi stocks steady, but earnings season will test market direction
Saudi Arabia’s main stock index, known as Tasi, fell 0.2% last week to 10,376 points, after dropping 1.94% the week before.
More shares rose than fell, but the index gave up an early rise and ended near its weekly low.
Bank shares mostly declined, while Saudi Aramco and Maaden rose and helped limit the index’s loss.
Trading value fell 6.2% to 17.4 billion riyals, so the wider gains did not come with stronger market activity.
Investors are now watching third-quarter company results to see whether profits can support current share prices.
Expected profits for the year fell during the week, leaving the market’s expected price-to-earnings ratio near 14, while long-term government bond yields remain high.
Early results from three companies were mixed, and they are too few to show how the full earnings season will go.
Saudi Arabia’s main stock index, TASI, fell 0.2% over the week to 10,376 points, after a 1.94% drop the previous week.
The market’s breadth improved, with more shares rising than falling, but trading activity weakened and the index did not establish an upward trend.
Third-quarter earnings are expected to test whether company profits can support current share prices.
Long-term government yields remain high, leaving a limited gap between expected share earnings yields and government returns.
Early results were mixed: Almarai’s profit rose slightly, while profits at eXtra and Tasheel fell.
- Who
- Saudi-listed companies and investors in the Saudi stock market.
- What
- TASI fell 0.2% for the week, while improved share performance and upcoming earnings left the market’s direction uncertain.
- When
- The week ending 2026-10-10; the article was published on 2026-10-10.
- Where
- Saudi Arabia.
- Why
- Third-quarter earnings will test whether profits can justify current valuations, especially as long-term government yields remain high.
This story does not have two clearly opposing sides.
No direct quotes in the coverage so far.
TASI fell 1.94%, and only 27 companies rose while 223 declined.
TASI fell 0.2% to 10,376 points, while 128 companies rose and 117 fell.
Almarai reported annual net profit growth of about 0.7%, while profits at eXtra and Tasheel declined.
- TASI weekly close
- 10,376 points
- TASI weekly change
- Down 0.2%
- Weekly trading value
- 17.4 billion riyals, down 6.2%
- Share performance
- 128 companies rose; 117 fell
- Expected price-to-earnings ratio
- About 14 times
- Saudi 10-year sukuk yield
- About 6.13%
Sources
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