Business · Markets · 10 hrs ago
Saudi stocks fall as earnings results shift investor focus
Saudi Arabia’s TASI index fell 0.8% to 9,838 points on November 1, extending its losses to a second session.
Shares in 211 of 252 traded companies fell, while 36 rose, showing that declines were widespread.
The drop came as companies began reporting third-quarter results, with 84 of 273 companies having reported by the time of the market update.
Those reporting recorded combined profits of 43.38 billion riyals, up 23.69% from a year earlier.
But results compared with analyst expectations also mattered: Elm’s profit beat forecasts and its shares rose 9%, while Alujain’s profit grew but fell short of expectations and its shares dropped 9.91%.
The figures suggest that profit growth alone did not guarantee a higher share price, although the small sample does not prove results caused every price move.
The reporting deadline is November 11, and 189 companies had yet to announce results.
Saudi Arabia’s main stock index, TASI, fell 0.8% to 9,838 points on November 1, as 84% of traded shares declined.
The index extended its losses to a second session, bringing its cumulative decline to 1.85%.
Third-quarter earnings results added to investor focus, with results compared against analysts’ expectations as well as prior-year earnings.
Of 84 companies that had reported, combined profits rose 23.69% year on year to 43.38 billion riyals.
Six of the seven reporting companies with available analyst estimates fell short of those expectations.
- Who
- Saudi-listed companies and investors in the Saudi stock market.
- What
- TASI fell 0.8%, while earnings reports showed mixed results against analyst expectations.
- When
- November 1, 2026.
- Where
- Saudi Arabia’s main stock market.
- Why
- The market faced broad share-price declines as investors assessed earnings against expectations; the article does not identify a single cause for the fall.
This story does not have two clearly opposing sides.
Third-quarter results were reported by 84 of 273 companies, with 189 yet to announce.
TASI fell 0.8% to 9,838 points, and 211 of 252 traded companies’ shares declined.
The deadline for companies to announce their financial results was approaching.
- TASI close
- 9,838 points, down 0.8%
- Market breadth
- 211 of 252 shares fell; 36 rose
- Trading value
- 3.11 billion riyals, down 23%
- Reported companies
- 84 of 273
- Combined reported profits
- 43.38 billion riyals, up 23.69% year on year
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