TASI Slips 0.84% On Broad Selling As Telecom Holds And Nomu Gains
The main index closed at 9,838.28 with 220 decliners against 44 advancers, four more companies put a number on the utility tariff increase, and Nomu added 0.75%.
The Saudi main index fell 0.84% on Sunday, its second straight decline, as selling spread across almost every sector while telecom held and Nomu, the parallel market, moved the other way.
The Tadawul All Share Index closed at 9,838.28, down 83.22 points, after trading between 9,923.45 and 9,788.82. Turnover was SAR 3.11 billion, about $828 million. Breadth was lopsided: 220 Main Market names fell against 44 that rose, close to five losers for every winner, and the close sits 4.24% above the October 25 low of 9,438.50 and 15.1% below the April 15 high of 11,589.05.
The damage was concentrated. Pharmaceutical names averaged -4.84% and media -3.53%, with utilities at -3.26% and transportation at -2.84%, averages computed here from each constituent's official close. The other end was thin but real: telecom was the only group in the green at +0.21%, banks sat close to flat at -0.20%, and Saudi Telecom rose 0.44% to SAR 41.34 ($11.02). Saudi Aramco closed unchanged at SAR 25.92 ($6.91), SABIC fell 2.38% to SAR 45.96 ($12.26) and ACWA Power 2.97% to SAR 150.50 ($40.13).
One name carried the upside. ELM jumped +9.00% to SAR 611.50 ($163.07) on SAR 198.4 million of turnover, the second heaviest traded value of the session. Saudi Pharmaceutical fell -9.99% to SAR 24.68 ($6.58) and Alujain -9.91% to SAR 23.26 ($6.20), the two deepest declines, while Bindawood gained 5.43% to SAR 4.85 ($1.29).
The filings told a quieter story than the tape. Three companies put the utility tariff increase into their cost guidance in statements dated October 29: Al Othaim expects costs to rise, SASCO expects higher operating expenses on electricity and water, and United Mining put the effect on its cost of goods at 0.64%. Separately, Al Arabia said it rescheduled SAR 1.75 billion (about $467 million) of debt with three banks, Future Vision, which trades on Nomu, won approval for a SAR 3 million (about $800,000) sukuk issue, and Watani Iron Steel declared a cash dividend of SAR 0.05 a share (about one cent).
Nomu rose +0.75% to 21,636.14 on SAR 15.0 million of turnover, about $4.0 million, with 34 names up and 33 down on the parallel board. Almodawat gained 9.74% to SAR 4.17 ($1.11) and Group Five 7.18% to SAR 58.95 ($15.72), while Amwaj International fell 18.69% to SAR 12.18 ($3.25) and HKC 9.94% to SAR 28.10 ($7.49).
The listing pipeline added four items. Gulf General announced a private offering at SAR 10.00 ($2.67) a share that adds 17.6 million shares, SAR 176 million in total (about $46.9 million). SARCO set a rights issue at the same price, 30.0 million shares and SAR 300 million (about $80 million). ASLAK priced a private offering at SAR 23.81 ($6.35) for 3.90 million shares, SAR 92.8 million (about $24.8 million). Tamimi Energy announced an IPO without a size or price. Our IPO Tracker carries the full list.
| INDEX | CLOSE | CHANGE | TURNOVER |
|---|---|---|---|
| TASI | 9,838.28 | -0.84% | SAR 3.11bn / $828m |
| Nomu | 21,636.14 | +0.75% | SAR 15.0m / $4.0m |
Sources
Saudi Exchange end-of-day market data for November 1, 2026, which supplies the index closes, turnover, volume and every per-share figure in this issue. Company statements are the companies' own disclosures to the exchange, dated October 29, 2026. Sector averages and index breadth are calculated here from those closing prices, and the company profile figures come from the company's own disclosure and listing page.
Company Of The Day
The main index fell in every group but one on Sunday, and telecom was the exception. Saudi Telecom Company (stc), ticker 7010, rose 0.44% to SAR 41.34 ($11.02) on SAR 124.6 million of turnover, the third heaviest traded value of the session.
stc runs the Kingdom's mobile, fixed-line, broadband, cloud and digital payment networks, and the Public Investment Fund holds the majority of it. It is the incumbent carrier, with roughly 60% of the mobile market, ahead of Zain KSA and Mobily. The company has moved its infrastructure, fintech and data centre businesses into separate units, TAWAL, stc pay and center3, which is the shape a former monopoly takes when it is pushed to grow faster than the subscriber base.
That structure is why the stock behaves differently from the rest of the board. Subscriber revenue is contractual and recurring, so a session like Sunday's, where 220 Main Market names fell, leaves it largely untouched. It also carries a different cost problem: a network is a large fixed asset, and electricity is one of its running costs, so the tariff increase that three companies wrote into cost guidance lands on this business too.
Learn more by visiting their official website at https://www.stc.com.sa