The main market index, TASI, began trading on Sunday with a decline of 0.90%, equivalent to 99.62 points, falling to a level of 10,907.65 points, amid a selling wave that affected most stocks.
By 10:30 Riyadh time, the value of trades reached 908.73 million riyals, through trading on 43.70 million shares, distributed among the shares of 272 companies, of which 230 companies declined, compared to the rise in the shares of 31 companies, while the shares of 11 companies remained unchanged.
The market losses came under pressure from some sectors, with the utilities sector leading the declines with a decrease of 1.81%, followed by the basic materials sector with a decrease of 1.52%, amid trading valued at 170.19 million riyals, and then the transportation sector with a decrease of 1.24%.
The energy sector also declined by 1.21%, affected by the negative performance of a number of the sector’s stocks, most notably Saudi Aramco and Luberef, while the applications and technology services sector was almost the only sector that moved in the positive direction, with a marginal increase of 0.04%, while the household and personal products index remained unchanged.
In terms of stock performance, Armah stock topped the list of the most rising stocks during early trading, after it rose by 5.28% to 68.80 riyals, followed by Jaz stock with a rise of 5.11% to 17.69 riyals, then Masik with a rise of 3.88% to 35.32 riyals.
Shares of Saudi Re also rose by 3.45% to reach 28.76 riyals, and shares of Ata’a by 2.76% to 43.22 riyals.
In contrast, Petro Rabigh shares topped the list of the biggest losers, declining by 8.27% to 16.87 riyals, followed by Luberef shares, which fell by 5.30% to 133.90 riyals.
Bahri's stock fell by 4.15% to 35.12 riyals, while Arabian Drilling's stock recorded a decrease of 3.11% to 93.40 riyals.
In terms of trading activity, Al Rajhi Bank's stock topped the list of stocks in terms of trading value with 76.42 million riyals, with the stock price declining by 0.76%, followed by Petro Rabigh's stock with a trading value of 76.06 million riyals.
In terms of trading volumes, Petro Rabigh stock came out on top after trading 4.44 million shares, followed by Saudi Kayan stock with trades amounting to 2.47 million shares, with the share price decreasing by 2.97%.
The session witnessed reactions to a number of disclosures, including Alujain's announcement of changes in its executive leadership, which coincided with a decline in the stock in early trading.
In the water sector, Miyahuna's stock fell by 1.07% to 11.06 riyals, after the company announced that the General Authority for Competition had issued no objection to its acquisition of Shas Water Services Company, thus recording its lowest level in 52 weeks.
The United Cooperative Assurance Group (ACIG) also announced that it had obtained final approval for a new insurance product, while the United Cooperative Assurance Company's stock witnessed a trading suspension based on the Capital Market Authority's announcement.
Several stocks hit their lowest levels in 52 weeks during the first minutes of the session, led by Miyahuna at 11.06 riyals, Tabuk Cement at 7.12 riyals, Al Mazraa Markets at 11.80 riyals, and Saco at 19.18 riyals.
Shares of Ground Services also fell to 22.32 riyals, and Flynas to 47.86 riyals, recording their lowest levels in a year.
Some stocks recorded new historical lows, including Miyahuna at 11.04 riyals, Tabuk Cement at 7.18 riyals, and Al Mazraa Markets at 11.82 riyals.
