Saudi Stock Exchange Slightly Declines Amid Pressure from Aramco and Al Rajhi

SadaNews - The main index of the Saudi stock market, "TASI", began the first session of the week with a slight decline of 0.2%, following an increase that lasted for two consecutive sessions, while maintaining trading above the 11,200-point level.

"TASI" faced pressure from the two largest companies affecting the index; "Aramco" and "Al Rajhi Bank".

Today marks the beginning of companies announcing their financial results for the second quarter of 2025, including Almarai Company, which achieved a profit growth of 4.4%, but this came below the average expectations of analysts. Almarai's stock started the trading sessions down by 0.5%.

Mary Salem, a financial analyst at "Asharq", believes that the companies' results for the second quarter are the main factor determining the index's trajectory during the current period, and they will play a pivotal role in guiding this trajectory until the end of the year.

Nadec's stock rose by 0.5% after it announced the commencement of its subsidiary "Al Raa'i National Livestock" to implement a project for sheep and goat breeding and meat production in the Hail region of northern Saudi Arabia, with investments estimated at about two billion riyals, which include funding supported by the Agricultural Development Fund worth 1.1 billion riyals.

In terms of market news and commodities affecting the Saudi stock exchange, the "OPEC+" alliance decided yesterday to increase its oil production by 548,000 barrels per day in August, exceeding the increases approved over the past three months, in an effort to regain the market share lost to competitors during the supply cuts to achieve a balance between supply and demand in the market. The decision is expected to impact global crude prices as markets open tomorrow starting from Asia.

The Saudi market index had ended last week's trading up by 1.6%, recording gains for the second consecutive week.