Professor Ali Gamal Abdelgawad: Saudi Stock Market (TASI) and Listed Stocks Analysis

• بواسطة دكتور علي جمال عبد الجواد
• 2025 Nov 28
• 1239

 

Prepared by: Professor Ali Gamal Abdel Gawad – Lecturer of Investment and Finance.

Saudi Stock Market (TASI) and Listed Stocks Analysis — A Comprehensive Overview

First: An Overview of the Saudi Stock Exchange (TASI)

The Saudi Stock Exchange (TASI) closed at 10,640 points, a slight increase of +0.05%, on November 27th, amid limited fluctuations between 10,612 and 10,688 points. This movement reflects a cautious market sentiment with a clear decrease in risk appetite, especially after the index approached a significant support zone at the 10,550-10,600 point level.

Index Movement Highlights

Liquidity tended to be selective: flows were evident in banking, telecommunications, and some defensive stocks.

There was clear weakness in basic materials stocks, led by SABIC, Ma'aden, and Sipchem, which put downward pressure on the index.

 

The stability of the cement sector provided relative balance to the session.

The index has been moving sideways for several sessions, suggesting a potential consolidation phase in preparation for a stronger move.

Second: Analysis of Key Market Sectors

1) Insurance Sector — Clear Selling Pressure

Most insurance companies recorded varying declines, reflecting:

Profit-taking after previous gains.

A decrease in speculative appetite.

A lack of new operational catalysts.

Notable Movements:

Aseeg -2.98% (A sharp drop due to weak liquidity).

Al-Ittihad -2.68%

Saudi Re +1.72% (The strongest performer, supported by results and institutional demand).

Al-Muttahida +1.04% (Improved liquidity).

Analytical View: The sector is under pressure, with the exception of companies with strong financial positions such as Saudi Re, Bupa, and Al Rajhi Takaful.

2) Banking Sector — The Biggest Supporter of the Index

The banks' movements were positive, albeit limited, but sufficient to prevent the index from falling.

Key Movements:

Al Rajhi +0.37%

Al Ahli +0.71%

Alinma +0.50%

Arab National Bank +0.23%

Analytical View: The banking sector is currently the market leader, especially with stable interest rates, high provisions, and good asset quality.

3) Basic Materials Sector — The Biggest Pressure

The sector experienced a clear downward trend due to declining industrial demand and global petrochemical prices.

Key Pressures:

SABIC -1.08%

Ma'aden -1.37%

Sipchem -1.06%

Kemanol +0.46% (Minor Exception)

Astra Industrial Flat (Positive Consolidation)

Analytical View: The sector is trapped by oil and petrochemical prices, and the pressure may continue unless catalysts emerge.

4) Telecommunications Sector — Stable Positive Performance

Telecommunications has become a safe haven for investors.

Movements:

STC +0.09%

Mobily -0.08%

Zain Saudi Arabia +0.56%

Qoo Telecom +0.73%

Analytical View: The sector is stable and trending towards a gradual upward movement, driven by improved cash flow and revenue growth.

5) Food and Consumer Goods Sector

 

The performance of consumer goods companies varies depending on their results.

Notable:

SADAFCO +0.21% (A consistently strong stock in the medium term)

Almarai +0.36%

Herfy -0.99%

Halwani -1.11%

Analytical View: The sector is defensive and poised for consolidation.

6) Cement Sector — Positive Consolidation

With infrastructure projects stabilizing, the sector has demonstrated resilience.

Arabian Cement +1.29%

Qassim Cement +0.96%

Eastern Cement +0.96%

Najran Cement +0.29%

Analytical View: The sector is on a moderately positive trajectory, and the results of the next quarter will be the main driver.

7) Real Estate Sector — Clear Selectivity

Strong gains for several stocks:

Dar Al Arkan +3.91%

Shams +3.20%

Thimar +4.29%

Al Andalus +3.94%

While:

Emaar -0.45%

Al Aqaria Flat

Analytical View: The sector is witnessing speculative liquidity entering some stocks, while leading stocks remain within a narrow range.

Third: Key Technical Opportunities (Based on Closing Prices)

Positive Stocks Possible to Continue the Rise:

Saudi Re

Dar Al Arkan

Al Andalus

SADAFCO

Al Rajhi

Al Ahli

Catrium

Al Babtain

Al Fakhariya

Stocks Under Pressure (Possible for Further Decline):

Aslak

Aseeg

Al Asmak

Maaden

SABIC

Sipchem

Sinomy Retail

Fourth: Expected Scenario for the TASI Index

Positive Scenario (60% Probability)

Maintaining support at 10,600 points

 

Targeting 10,750 then 10,900 points

Supported by Banks and Telecommunications

Negative Scenario (40% Probability)

Breaking 10,550

Opening the way towards 10,450 then 10,300 points

Pressure from Petrochemical Stocks

Fifth: General Conclusion

The Saudi market is showing strong resilience Despite global pressures, banks and telecommunications are the biggest drivers of the index, while the basic materials sector continues to weigh on market performance.

The current phase is highly selective, favoring companies with:

Stable financial results

Cash dividends

Strong financial positions

• الوسوم
• Professor
• Ali
• Gamal
• Abdelgawad:
• Saudi
• Stock
• Market
• (TASI)
• and
• Listed
• Stocks
• Analysis
• Professor Ali Gamal Abdelgawad: Saudi Stock Market (TASI) and Listed Stocks Analysis