2025 Saudi Market Review: Telecom Sector Gains 10.61% in Soft Market; 4 Stocks Up Over 50%, Including ALBABTAIN up 83%—All Captured by Our Column
Tadawul All Shares Index TASI.SA | 0.00 | |
ALBABTAIN 2320.SA | 0.00 | |
RASAN 8313.SA | 0.00 | |
CENOMI RETAIL 4240.SA | 0.00 | |
EIC 1303.SA | 0.00 |
How did the Saudi stock market perform overall in 2025? Which sectors stood out with the most remarkable performance? And which individual stocks became the most noteworthy to watch for the year?
Index Performance
In 2025, the Saudi stock market performed relatively weakly overall. The Tadawul All Shares Index(TASI.SA) index experienced a surge at the beginning of the year, reaching a high of 12536.28 before declining. As of the closing on December 15, 2025, the TASI index closed at 10590.17, a cumulative decline of 12.02% for the year.
Meanwhile, we also observed the performance of other indices. As of now, the MSCI Tadawul 30 has fallen by 7.82%, the smallest decline among the seven indices observed, while the IPO index has fallen by 23.55%, the largest decline. Overall, large-cap indices outperformed small- and mid-cap indices.
The table below shows the performance of various indices.
| Market Indices | YTD Change(%) |
| MSCI Tadawul 30 | -7.82 |
| Large-cap | -11.03 |
| TASI50 | -11.74 |
| TASI | -12.02 |
| Medium-cap | -12.86 |
| Small-cap | -20.63 |
| IPO Index | -23.55 |
Data Sourced from the Saudi Stock Exchange, as of December 15th
Sectors Performance
Looking at different sectors, due to the overall poor market performance, various industry sectors also performed relatively weakly.
As of December 15th, among the 22 industry sectors, only the Telecommunication Services sector rose by 10.61%, while all other sectors experienced varying degrees of decline. The Utilities and Media and Entertainment sectors fell by 45.56% and 42.67% respectively, with 10 sectors experiencing declines exceeding 20%. Compared to the TSAI index, 8 sectors outperformed the TSAI.
Detailed sector performance is shown in the table below.
| Sectors | YTD Change(%) |
| Telecommunication Services | 10.61 |
| Banks | -0.33 |
| Capital Goods | -1.24 |
| Consumer Discretionary Distribution & Retail | -1.38 |
| REITS | -8.01 |
| Pharma, Biotech & Life Science | -8.82 |
| Household & Personal Products | -9.73 |
| Materials | -10.65 |
| Energy | -13.62 |
| Health Care Equipment & Svc | -16.65 |
| Commercial & Professional Svc | -18.39 |
| Real Estate Mgmt & Dev't | -18.66 |
| Consumer Services | -23.68 |
| Software & Services | -24.46 |
| Financial Services | -24.55 |
| Food & Beverages | -25.43 |
| Insurance | -26.48 |
| Transportation | -26.68 |
| Consumer Staples Distribution & Retail | -28.66 |
| Consumer Durables & Apparel | -32.43 |
| Media and Entertainment | -42.67 |
| Utilities | -45.56 |
Data Sourced from the Saudi Stock Exchange, as of December 15th
Top 10 Strongest Stocks
Based on the "1-year change" statistics, we have compiled a list of the top 10 stocks with the highest increases in the market. All 10 of these stocks have seen increases of over 20%, with an average increase of approximately 43.45%.
Among these, Al-Babtain Power and Telecommunication Co.(2320.SA) has seen an increase of 83.75% over the past year (or approximately 76.9% year-to date**), ranking first. Rasan Information Technology Co.(8313.SA) , Fawaz Abdulaziz Alhokair Co.(4240.SA) and Electrical Industries Co.(1303.SA) , have also seen increases of over 50% in the past year.
| Company | 1-year Change (%) | Earnings Ratings | Sectors |
| Al-Babtain Power and Telecommunication Co.(2320.SA) | 83.75 | 81.63 | Capital Goods |
| Rasan Information Technology Co.(8313.SA) | 65.79 | 75.80 | Insurance |
| Fawaz Abdulaziz Alhokair Co.(4240.SA) | 57.05 | 48.98 | Consumer Discretionary Distribution & Retail |
| Electrical Industries Co.(1303.SA) | 50.97 | 68.22 | Capital Goods |
| Saudi Cable Co.(2110.SA) | 38.95 | 89.80 | Capital Goods |
| Abdullah Saad Mohammed Abo Moati for Bookstores Co.(4191.SA) | 38.71 | 43.73 | Consumer Discretionary Distribution & Retail |
| National Shipping Company of Saudi Arabia(4030.SA) | 33.09 | 84.26 | Energy |
| Al Mawarid Manpower Co.(1833.SA) | 23.11 | 65.60 | Commercial & Professional Svc |
| Almasane Alkobra Mining Co(1322.SA) | 22.09 | 97.67 | Materials |
| Etihad Etisalat Co.(7020.SA) | 21.01 | 82.51 | Telecommunication Services |
**Note: To facilitate the assessment, we directly utilized the "1-year change" data of stocks from the Saudi Stock Exchange. This implies that the actual price change is between December 16, 2024, and December 15, 2025. After a sampling check, we found no significant difference compared to the list calculated from January 1, 2025, and concluded that the impact on the findings can be disregarded.
Special Note: Earnings Ratings are derived from a weighted calculation based on Saudi Arabian stock market financial data (Prepared List of 195 Potential Stocks). The TOP 30 represents the top 30 stocks in this rating, with higher ratings indicating stronger financial fundamentals.
Furthermore, based on financial ratings and relative strength ratings, our weekly column, "Long-term Strong Saudi Stocks" selects the stocks with the highest overall rating each week.
For example, the strongest stock on this list, Al-Babtain Power and Telecommunication Co.(2320.SA) , was first covered in our "Post-Earnings Search!" article after the first quarter of this year, and has been featured multiple times in subsequent weekly stock selection articles "Long-term Strong Saudi Stocks". Other strong performers, such as Rasan Information Technology Co.(8313.SA) , Fawaz Abdulaziz Alhokair Co.(4240.SA) and Electrical Industries Co.(1303.SA) , also frequently appear in our weekly column. Readers are encouraged to follow our weekly column to identify the strongest stocks each week.
Disclaimer: The original data mentioned above is sourced from the Saudi Stock Exchange and other public sources. We have visualized this data to facilitate a better understanding of the Saudi market for readers. The indices and individual stocks discussed in the article are purely for the presentation of objective statistical results and should not be interpreted as investment advice.