A have a look at the efficiency of the Saudi market this week (opinions of inside analysts)

Saudi market buying and selling display screen

The primary market index – TASI, ended final Thursday’s session with a slight improve of about 5 factors to shut at 10,641 factors, with a complete worth of trades amounting to about 3.4 billion riyals, and its weekly losses amounted to 370 factors, because it decreased by 3.4% in comparison with the top of the earlier week.

The US inventory market closed its doorways final Thursday on the event of the official Thanksgiving vacation, whereas buying and selling resumed on Friday in a shortened session.

Concerning oil, the usual Brent crude fell final Friday, by 0.22%, or 14 cents, to $63.20 per barrel, declining 1% over the course of the week, and its month-to-month losses amounted to 2.9%.

Nymex crude fell final Friday, by 0.17%, or 10 cents, to $58.55 per barrel, bringing its weekly and month-to-month losses to 0.84% ​​and 4%, respectively.

With regard to world markets, the Dow Jones Industrial Common elevated final Friday, by 0.61%, or the equal of 289 factors, to 47,716 factors, bringing its weekly positive aspects to three.18%, and rising by 0.32% within the month of November, recording positive aspects for the seventh month in a row within the longest sequence since 2018.

Gold futures costs rose final Friday, by 1.25%, or the equal of $52.6, to $4,254.90 per ounce, recording weekly and month-to-month positive aspects of three.37% and 5.60%, respectively.

Ahmed Negm, head of the market analysis division within the Center East at XS.com, mentioned that the Saudi market recorded weekly losses of three.36%, persevering with its decline for the fourth week in a row, with the TASI index closing at 10,640 factors, the bottom since mid-September, and recording a decline from final week’s closing degree of 11,010 factors.

Najm defined that if the index continues its downward pattern with continued promoting strain, the following assist degree could also be situated at 10,400 factors, whereas within the occasion of an upward rebound, the resistance degree is anticipated to be at 11,000 factors.

Ahmed Negm, Head of Market Analysis within the Center East at XS.com

Najm identified that the index started its buying and selling by breaking the assist degree at 11,000 factors, as promoting pressures remained widespread below strain from the decline in oil costs and damaging sentiment within the area’s markets, including that the draft peace framework between Russia and Ukraine, led by the USA, might push merchants to cost the situation of step by step easing sanctions on Russian vitality manufacturing and the return of extra provides to the markets.

He indicated that this coincides with the Worldwide Power Company’s expectations of a big surplus in provide for the 12 months 2026, which saved oil at its lowest ranges in a month and negatively affected threat urge for food in Gulf markets, particularly on Saudi vitality and petrochemical shares.

On the first market degree, Najm identified the launch of particular person subscriptions for CGS to supply 6 million shares in the principle market, following robust protection from establishments, making this the twelfth providing in the principle marketplace for the 12 months 2025, which contributes to absorbing a part of the liquidity amid the momentum of subscriptions, negatively affecting the general efficiency of the index.

He added that the Public Funding Fund applied the method of “constructing an accelerated order ebook” to promote a 3.3% stake in Umm Al-Qura Improvement and Reconstruction Firm (Massar) in a deal price roughly $250 million. Masar’s shares declined by about 13.5% through the week, which put clear strain on the true property improvement sector.

As for sectors, Najm identified that the majority sectors declined, led by banks, vitality, and communications companies, as main shares similar to Al Rajhi, Al Ahli, Aramco, and STC deepened their losses, pushing the index additional into negativity.

He mentioned that on the constructive facet, the rising expectations for an rate of interest minimize by the US Federal Reserve in December offered some marginal assist, provided that the area’s central banks would take the identical step, nevertheless it was not sufficient to reverse the danger aversion dominating the market.