The Saudi stock market finished the session on a positive note, with broad gains across the main Tadawul All Share Index and notable movements in both the main market and the Nomu parallel market. Trading activity remained robust as investors tracked company-level news and broader energy-linked dynamics that continue to shape market sentiment in Riyadh. The day’s results reflected modest but widespread advances, alongside selective declines that highlighted sector-specific recalibrations. Overall, the market demonstrated resilience, underscoring the ongoing interest from domestic and regional investors in Saudi equities as part of the broader Gulf market cycle.
Market Snapshot and Key Metrics
Saudi Arabia’s benchmark Tadawul All Share Index (TASI) closed at 12,102.55 points, rising by 25.24 points, which equates to a gain of 0.21 percent for the session. The day’s turnover registered at an aggregate value of 5.55 billion Saudi riyals, equivalent to roughly 1.47 billion U.S. dollars, underscoring sustained liquidity that supported price discovery across a wide spectrum of listed companies. The breadth of movement showed 99 stocks advancing, contrasted with 131 which declined, indicating a market that leaned toward downside pressure in more sectors while still posting gains at the index level through selective leadership.
In parallel, the MSCI Tadawul Index climbed by 2.55 points, marking a 0.17 percent uptick to close at 1,517.16. This alignment between the domestic market’s closing tone and the MSCI Tadawul Index suggested that larger, investable Saudi equities continued to perform in a manner consistent with the broader international framework, reflecting ongoing integration of Saudi equities into global investment mandates. The parallel market Nomu also showed a modest uptick, finishing 11.83 points higher, or 0.04 percent, at 31,005.69 points. The Nomu segment saw 39 advancers versus 43 decliners, signaling a mixed but constructive mood in the more speculative portion of the market.
This session’s data collectively painted a picture of a market that, while experiencing uneven performance across individual names, maintained an overall trajectory of gradual ascent for the broader indices. The combination of modest index gains, meaningful turnover, and a balanced spread of advancing and declining issues underscored a vibrant trading environment where investors continued to price in company-specific catalysts alongside macro considerations.
Within the broader Saudi market framework, several key stocks stood out for their contributions to the day’s performance. Tihama Advertising and Public Relations Co. emerged as the top performer on the main market, delivering a notable 9.91 percent rise to close at 16.86 riyals per share. This performance highlighted a day of strong relative momentum for a name that had captured attention through its earnings trajectory, market positioning, and potential growth avenues in advertising and communications. In the same cohort of notable gainers, Zamil Industrial Investment Co. advanced by 8.01 percent to finish at 35.05 riyals, reflecting robust sentiment around industrial and construction-related equities in a period of optimistic domestic demand and infrastructure activity.
Al Yamamah Steel Industries Co. also joined the ranks of top performers, with its share price climbing by 5.42 percent to 36 riyals. AYYAN Investment Co. marked progress as well, rising 4.99 percent to close at 16 riyals, while Fawaz Abdulaziz Alhokair Co. gained 4.49 percent to end at 14.44 riyals. These movements collectively illustrate how a mix of manufacturing, construction-related, and consumer-facing sectors contributed to the positive tilt in the index and reflected a broad-based interest in Saudi corporate earnings narratives and growth prospects.
On the downside, the day’s weak performers in the main market included Arabian Cement Co., which declined by 5.81 percent to 14.88 riyals, highlighting ongoing pressure in cement and construction materials amid shifting input costs and competitive dynamics. Riyadh Cement Co. followed with a 5.45 percent drop to 30.35 riyals, while Yamama Cement Co. posted a 5.26 percent retreat to 33.35 riyals. Umm Al-Qura Cement Co. saw a more moderate decline of 3.55 percent to 17.94 riyals, and Methanol Chemicals Co. likewise slipped by 3.03 percent to close at 17.94 riyals. The concentration of declines in cement and related materials mirrors sector-specific concerns and cost considerations that could influence near-term profitability for cement producers.
In the Nomu parallel market, View United Real Estate Development Co. led the day’s gainers with a substantial 22.64 percent surge to 9.10 riyals, underscoring strong appetite for real estate development assets within the higher-risk segment of Saudi equities. Other Nomu gainers included Mulkia Investment Co., up 8.25 percent to 40 riyals, and Enma AlRawabi Co., rising 6.67 percent to 23.68 riyals. Additional notable gainers on Nomu were Naas Petrol Factory Co. and Meyar Co., signaling continued appetite for energy-adjacent and diversified industrial exposure in the more speculative market space.
Conversely, Nomu’s weaknesses were led by Al-Modawat Specialized Medical Co., whose shares fell 8.05 percent to 16 riyals, marking the largest decline on Nomu for the session. Naseej for Technology Co. slipped 7.14 percent to 65 riyals, and Saudi Azm for Communication and Information Technology Co. weakened by 6.18 percent to 28.10 riyals, among other declines that highlighted volatility in technology-oriented segments of the parallel market. The Nomu landscape thus demonstrated a mix of robust gains by select real estate and growth names, alongside notable declines in more specialized tech and medical-related issues, reflecting varied risk appetites among Nomu participants.
In corporate news and market notices, Al-Jouf Agricultural Development Co. announced a Shariah-compliant financing arrangement worth SR200 million with Banque Saudi Fransi to support its expansion plans and ongoing operations. The company’s stock traded at 64.50 riyals, rising about 1.2 percent on the session, underscoring the market’s positive reception to financing activity linked to growth initiatives in the agricultural sector.
Meanwhile, in corporate cost dynamics affecting listed firms, Saudi Basic Industries Corp. (SABIC) disclosed that its Saudi affiliates have received official notifications signaling increased feedstock prices. This development is expected to influence production costs for SABIC, with the stock closing at 67.30 riyals, reflecting a decline of 0.59 percent on the day. The implication for profitability and margins will hinge on the duration and magnitude of the feedstock price adjustments, alongside any pass-through mechanisms that the company’s cost structure can leverage.
In related sector-cost developments, Sahara International Petrochemical Co. (Sipchem) was notified by Saudi Aramco of amendments to certain feedstock prices, effective January 1. The anticipated financial impact is projected to yield a 2 percent increase in the total cost of sales starting from the first quarter of the 2025 fiscal year. Sipchem finished at 24.66 riyals, down 2.43 percent on the session, illustrating how input-cost shifts can translate into near-term valuation and performance considerations for petrochemical players.
National Agricultural Development Co. (NADEC) also reported a notification regarding adjustments to fuel prices that are expected to raise operating costs by approximately 1.5 percent, to be realized in the first quarter of fiscal year 2025. This cost uptick is anticipated to modestly raise production costs, with NADEC closing at 24.52 riyals, up 1.55 percent, reflecting a nuanced response from investors to anticipated cost pressures balanced against fundamentals and growth opportunities in the agricultural and agribusiness space.
Taken together, the market’s headline statistics— including a modest index gain, broad turnover, and the distribution of advancers and decliners—painted a nuanced picture of today’s Saudi equity landscape. The interplay between company-level catalysts, sector-specific dynamics, and evolving input-cost environments contributed to a session characterized by selective leadership, cautious optimism, and a measured risk posture among market participants. The data underscored the importance of staying attuned to both corporate developments and macro signals as traders navigate the evolving Saudi market terrain.
Main Index Performance and Top Movers
In analyzing the day’s performance through the lens of the main market, the Tadawul All Share Index demonstrated a gentle ascension, buoyed by a cadre of stock-specific leaders that pushed the index higher despite a number of laggards across construction materials and related sectors. The closing print of 12,102.55 points positioned the main index in a zone where gains were driven by a combination of resilient earnings narratives, strategic corporate moves, and continued investor interest in Saudi equities as part of a broader regional growth story. The 0.21 percent increase may appear modest on a stand-alone basis, yet within the context of a market with a wide dispersion of daily returns, it signifies a constructive disposition among a substantial portion of constituents.
Looking at the top performers, Tihama Advertising and Public Relations Co. led the charge with a 9.91 percent ascent to 16.86 riyals. This move likely reflects a mix of improved revenue visibility, strategic positioning within the advertising and communications segment, and investor enthusiasm for organic growth trajectories anchored in brand-building opportunities that translate into sustainable earnings expansion. Zamil Industrial Investment Co. followed with an 8.01 percent gain, finishing at 35.05 riyals, underscoring strength in industrials and manufacturing plays that may reflect positive supply-demand dynamics or expectations of margin resilience amid input-cost volatility.
Al Yamamah Steel Industries Co. contributed to the gains spectrum with a 5.42 percent increase, closing at 36 riyals, which suggests continued confidence in steel-related equities—an area of Saudi market activity often sensitive to infrastructure spend, steel pricing trends, and domestic demand cycles tied to construction and manufacturing activity. AYYAN Investment Co. joined appreciably higher, advancing 4.99 percent to 16 riyals, signaling positive sentiment around investment vehicles that could benefit from diversified exposure and capital allocation strategies. Fawaz Abdulaziz Alhokair Co., a retailer with broad exposure to consumer sentiment and discretionary demand, rose 4.49 percent to 14.44 riyals, hinting at an ongoing reevaluation of consumer-facing equities within the Saudi market.
On the downside, the session’s declines were clustered around cement and related materials, reflecting sector-specific headwinds. Arabian Cement Co. fell 5.81 percent to 14.88 riyals, followed by Riyadh Cement Co. dropping 5.45 percent to 30.35 riyals. Yamama Cement Co. declined 5.26 percent to 33.35 riyals, while Umm Al-Qura Cement Co. slipped 3.55 percent to 17.94 riyals. Methanol Chemicals Co. also faced renewed selling pressure, retreating 3.03 percent to 17.94 riyals. The pattern suggests that although some industrials benefited from broader market optimism, cement and related materials faced margin pressure and competitive dynamics, which weighed on specific stock valuations during the session.
This dispersion between outperformers and underperformers underlines a market that is increasingly focused on sector rotation, earnings quality, and the sustainability of price gains beyond headline moves. Investors likely weighed factors such as input pricing, raw material costs, and potential synergies from ongoing expansion plans or capital investments. At the same time, price action in the cement space could reflect shifting expectations around public and private infrastructure timelines, as well as global commodity price trajectories that influence domestic construction activity.
The main market’s performance also intersected with the Nomu parallel market narrative. In Nomu, View United Real Estate Development Co. stood out as the top gainer, surging 22.64 percent to 9.10 riyals, illustrating a strong appetite for real estate development plays within the more speculative segment of the market. This outsized gain contrasted with more modest movements across other Nomu constituents, hinting at a selective demand dynamic in property development assets where investors anticipate favorable project pipelines and potential liquidity events.
Other Nomu gainers included Mulkia Investment Co., up 8.25 percent to 40 riyals, and Enma AlRawabi Co., up 6.67 percent to 23.68 riyals, signaling continued interest in diversified investment vehicles and industrial growth-oriented exposures on the higher-risk Nomu platform. Naas Petrol Factory Co. and Meyar Co. were also among the broader group of gainers, underscoring a cluster of energy-adjacent and industrial names benefiting from renewed risk appetite in Nomu.
In contrast, Nomu’s notable declines highlighted a different risk posture within the parallel market. Al-Modawat Specialized Medical Co. registered an 8.05 percent decrease to 16 riyals, marking the largest drop on Nomu for the day. Naseej for Technology Co. retreated 7.14 percent to 65 riyals, reflecting a pullback in technology-oriented themes within Nomu’s higher-risk segment. Saudi Azm for Communication and Information Technology Co. fell 6.18 percent to 28.10 riyals, illustrating continued volatility in tech and communications-related exposure within Nomu.
Taken together, the day’s sector-specific movements underscored how investors were calibrating risk and reward across main and parallel markets. The cement and construction materials sector’s weakness coexisted with strength in industrials, consumer-facing names, and select real estate development plays in Nomu, underscoring a nuanced, multi-layer landscape where stock-specific drivers and sector dynamics shaped the overall performance.
Nomu Parallel Market Overview
The Nomu parallel market continued to display differentiated strength and weakness across its roster of issuers. The most notable outperformance came from View United Real Estate Development Co., whose shares surged by 22.64 percent to finish at 9.10 riyals. This sharp move underscores investor enthusiasm for real estate development trajectories within Nomu, where speculative positioning often aligns with expectations of project pipelines, regulatory supports, or potential capital-raising opportunities that could unlock value for small- and mid-cap developers.
Beyond the top gainer, other Nomu bright spots included Mulkia Investment Co., up 8.25 percent to 40 riyals, signaling appetite for investment vehicles with diversified exposure and potential for growth in asset management or private equity-like activities. Enma AlRawabi Co. rose 6.67 percent to 23.68 riyals, continuing the theme of selective exposure to industrial and services-oriented names within Nomu. Naas Petrol Factory Co. and Meyar Co. were also cited among the day’s top gainers, reflecting a breadth of energy, manufacturing, and structural development interests on the Nomu board.
On the downside, Al-Modawat Specialized Medical Co. led Nomu declines with an 8.05 percent drop to 16 riyals, signaling a retreat in the healthcare-adjacent sector within the parallel market’s more speculative cohort. Naseej for Technology Co. fell 7.14 percent to 65 riyals, highlighting volatility in technology plays within Nomu’s ecosystem. Saudi Azm for Communication and Information Technology Co. decreased by 6.18 percent to 28.10 riyals, illustrating continued selling pressure in technology and communications segments that exist within this market space. These declines emphasize that Nomu, while offering outsized gains on occasion, can also experience rapid pullbacks as investors reposition around risk and liquidity constraints.
Overall, Nomu’s performance on this session reinforced the parallel market’s role as a barometer for high-risk appetite and early-stage growth prospects within the Saudi equities universe. The index’s movement, when contrasted with the main market’s more moderated gains, highlights the divergent risk-reward profiles that investors must navigate when deploying capital across Saudi Arabia’s dual-listed environment. The Nomu segment’s volatility can offer opportunities for nimble traders who capitalize on rapid price moves, while also presenting heightened risk for participants with longer investment horizons.
Corporate Announcements and Market Cost Developments
In corporate news, Al-Jouf Agricultural Development Co. disclosed that it has entered into a SR200 million Shariah-compliant bank facilities agreement with Banque Saudi Fransi. The financing arrangement is intended to support the company’s expansion plans and ongoing operational activities, reflecting a strategic focus on scaling agricultural production, distribution capabilities, and related infrastructure. The company’s stock closed at 64.50 riyals, representing a 1.2 percent gain for the session, which suggests a favorable reception by the market to the financing move and the strategic growth implications for the business.
From the perspective of input-cost dynamics affecting manufacturing and petrochemical players, SABIC (Saudi Basic Industries Corp.) announced that its Saudi affiliates have received formal notification of increases in feedstock prices. Such adjustments are expected to influence the company’s production costs, potentially impacting margins in the near term and requiring strategic cost management measures as the company navigates a more expensive feedstock environment. SABIC’s shares closed at 67.30 riyals, down 0.59 percent, reflecting investor sensitivity to cost-pressure news that could compress near-term profitability, even as long-term fundamentals remain supported by the Saudi industrial base and export opportunities.
Sipchem (Sahara International Petrochemical Co.) reported a notice from Saudi Aramco amending certain feedstock prices, with the effective date of January 1. The financial impact is anticipated to be a 2 percent increase in the total cost of sales beginning in the first quarter of the 2025 fiscal year. Sipchem’s shares ended the session at 24.66 riyals, down 2.43 percent, illustrating how feedstock-price adjustments can translate into near-term earnings headwinds for integrated petrochemical players, while highlighting the sensitivity of the sector to upstream price movements and supply-chain dynamics.
NADEC (National Agricultural Development Co.) also received a notification regarding adjustments to fuel prices, which the company estimated would result in a 1.5 percent rise in operating costs, to be reflected in the first quarter of fiscal year 2025. This expectation points to a moderate cost pressure scenario for NADEC as it navigates fuel-related expense changes within its agricultural and processing operations. NADEC’s shares closed at 24.52 riyals, marking a 1.55 percent increase on the day, suggesting that investors weighed the cost implications against the company’s growth prospects and potential productivity gains from continued expansion in the agricultural segment.
Taken together, these corporate notices and cost adjustments shed light on how evolving input costs—whether feedstock prices for petrochemicals or fuel-related costs for agriculture and processing—are expected to shape corporate profitability and margins in the near term. While some companies may experience margin compression due to higher input prices, others could offset these pressures through pricing strategies, efficiency improvements, or beneficial product mix. The market’s reaction—ranging from muted declines to selective buy-side interest—reflects a careful balancing act as investors assess the duration and magnitude of these cost changes and their implications for revenue growth, cash flow, and capital allocation.
Sectoral Dynamics, Stock-Specific Movements, and Investor Implications
The day’s sectoral dynamics reinforced the importance of stock-specific catalysts in shaping market outcomes in both the main market and Nomu. The strong performance by Tihama Advertising and Public Relations Co., along with gains in Zamil Industrial and Al Yamamah Steel, underscored continued investor interest in companies with potential exposure to growth in advertising, infrastructure development, and manufacturing capacities. The positive movement in these stocks suggests that investors are pricing in ongoing demand recovery, robust order books, or strategic expansion initiatives that could translate into higher earnings and improved margin structure over the medium term.
In contrast, the declines among cement producers—Arabian Cement, Riyadh Cement, Yamama Cement, along with Umm Al-Qura Cement—highlighted sector-specific pressures that can arise from input costs, pricing competition, or macro slowdowns in construction activity. The performance pattern implies that investors remain vigilant about cost structures and frequency of demand for cement products, which are closely tied to infrastructure timelines and public investment programs. The mixed picture across heavy materials stocks demonstrates how sector-specific headwinds can temper broader optimism, even as other segments like industrials and consumer-related names contribute to a net positive market tone.
On the Nomu side, the standout performance by View United Real Estate Development Co. points to a risk appetite for real estate development stories, especially in a market where project pipelines and regulatory frameworks can influence development timelines and returns. The cluster of gainers in Nomu, including Mulkia Investment Co. and Enma AlRawabi Co., signals continued interest in diversified investment and industrial growth plays within the parallel market, where investors often seek to balance risk and potential upside with different asset classes.
From a cost and profitability perspective, the feedstock adjustments announced by SABIC and Sipchem, together with NADEC’s fuel-related cost expectations, create a near-term framework for margins across the Saudi manufacturing, petrochemical, and agricultural sectors. The market’s pricing reaction—from modest declines in some stocks to stable or slightly positive moves in others—reflects ongoing recalibrations around how companies will manage higher input costs, pass-through pricing, and efficiency gains. For investors, the critical takeaway is that while the Saudi equities market remains attractive for its growth potential and structural reforms, it also requires careful stock-specific due diligence to assess how each company’s exposure to input costs and pricing power could influence earnings trajectories.
Investor Commentary, Global Context, and Forward-Looking Outlook
Looking ahead, market participants will likely continue to weigh the implications of ongoing input-cost shifts on corporate profitability, as well as the potential impact of macro factors such as commodity prices, energy markets, and regional economic developments on Saudi equities. The day’s results, including a broadly firmer Tadawul and a vibrant Nomu, suggest a market that is receptive to growth narratives while actively monitoring sector-specific risk factors. Investors may also consider the implications of the year-to-date trajectory of the MSCI Tadawul Index, which tracks the performance of the Saudi market within international benchmark frameworks, as a barometer for how Saudi equities are perceived by global investors and index providers evaluating exposure to the region.
In terms of risk factors, the energy and materials sectors are particularly sensitive to input price dynamics, regulatory changes, and the pace of global demand recovery. The reported feedstock adjustments for SABIC and Sipchem, along with the fuel price adjustments anticipated by NADEC, add layers of complexity to profitability forecasts in near-term horizons. As a result, market participants may shift allocations toward names with more predictable cost structures, pricing power, or exposure to growth catalysts such as export opportunities, technology-enabled efficiencies, or diversified revenue streams.
From a technical perspective, the day’s price action indicates that the market continues to rotate among leaders and laggards, with solid gains in select equities lifting the main index despite weaker performances in other segments. This pattern emphasizes the importance of stock-level fundamental analysis and the need to monitor company-specific developments, earnings guidance, and cost-management strategies to inform informed investment decisions. As Saudi Arabia advances its diversification objectives and integrates more fully with global capital markets, investors may expect continued interest in names with sustainable growth trajectories, resilient margins, and clear pathways to value creation.
The broader market context for Saudi equities remains supportive of a measured and disciplined approach to investing. The combination of robust liquidity, strategic corporate activity, and sector-specific dynamics will likely continue to shape the price discovery process in the coming sessions. Investors who stay attuned to company news such as financing agreements, feedstock price movements, and regulatory updates will be well-positioned to interpret shifts in valuations and adjust portfolios accordingly. The market’s resilience in the face of cost pressures demonstrates the Saudi equity market’s capacity to absorb near-term shocks while maintaining an overarching trajectory of development and growth within the region.
Conclusion
In summary, today’s Saudi stock market session delivered a balanced mix of gains and declines across the main Tadawul market and the Nomu parallel market. The Tadawul All Share Index rose modestly, underpinned by leadership from select stocks in advertising, industrials, and consumer sectors, while cement producers faced sector-specific headwinds. The Nomu market displayed distinct strength in certain real estate and diversified investment names, alongside notable declines in technology and healthcare-oriented issues, illustrating the market’s nuanced risk appetite. Corporate news highlighted financing activity and cost dynamics that are likely to influence profitability in the near term, with Al-Jouf Agricultural Development’s Shariah-compliant facility signaling expansion potential, and SABIC, Sipchem, and NADEC signaling higher input costs that may pressure margins in the quarters ahead.
As the Saudi market navigates these dynamics, investors will likely continue to monitor sectoral trends, cost pressures, and corporate strategies, seeking opportunities that balance growth potential with risk management. The day’s outcomes underscore the importance of stock-level research and the ongoing relevance of domestic catalysts in driving price movements, while the broader market landscape remains shaped by the country’s ambitious economic diversification agenda and its increasing integration with global financial markets.