Most Important News

1. Oil Tumbles as US-Iran Pause Fuels Ceasefire Hopes;
2. Al-Jouf Signs Share Subscription Deal;
3. Petro Rabigh Swings to Profit;
4. Sport Clubs Signs Land Lease Deal;

At the close of 26/07/2026, the Tadawul All Shares Index(TASI.SA) dropped by 0.34%, closing at 10766.84 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) dropped by 0.32%, closing at 22001.81 points. 

Wall Street's major indexes closed mixed Friday, with news that Pakistan brokered a restart of US-Iran talks briefly boosting risk appetite. The Dow Jones Industrial Average(DJI.US) rose 235.60 points, or 0.46%, to 51,947.25. The NASDAQ(IXIC.US) fell 161.87 points, or 0.64%, to 24,975.82. The S&P 500 index(SPX.US) edged up 3.68 points, or 0.05%, to 7,411.98.

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Oil Tumbles as US-Iran Pause Fuels Ceasefire Hopes

Crude prices sank Monday as traders weighed Middle East supply risks after the US halted airstrikes on Iran over the weekend. Brent fell nearly 5% toward US$92 a barrel, while WTI dropped below US$85. European gas slid 7.8%. Iran's army said Tehran suspended its response. Brent has surged about 30% this month.

Tadawul Market Cap Rises SAR71.1 Billion

Tadawul’s market capitalization rose 0.74% week on week, or SAR71.1 billion, to SAR9.60 trillion in the week ended July 23. Foreign investors’ ownership increased to 4.66% of total market capital, while institutional holdings climbed SAR72.3 billion to SAR9.19 trillion. Non-institutional ownership fell SAR1.16 billion to SAR412.79 billion.

KSA Stocks

Al-Jouf Signs Share Subscription Deal

Al-Jouf Agricultural Development Co.(6070.SA) signed a binding agreement with Almunajem Foods Co.(4162.SA) to issue 4.5 million new shares at SAR52.5 each, raising SAR236.25 million. The capital increase would lift capital to SAR345 million and give AlMunajem a 15% stake, pending regulatory and shareholder approvals.

Petro Rabigh Swings to Profit

Rabigh Refining and Petrochemical Co.(2380.SA) posted Q2 net profit of SAR2.66 billion, versus a SAR1.37 billion loss a year earlier, as revenue surged to SAR20.37 billion. First-half profit reached SAR4.13 billion on SAR35.22 billion in revenue, driven by higher utilization, sales volumes, product margins and lower finance costs.

Naqi Water Profit Surges

Naqi Water Co.(2282.SA) reported a Q2 net profit of SAR8.87 million, jumping 86.3% year-over-year, as revenue climbed 18.2% to SAR60.46 million. For the first half, profit rose 79.5% to SAR15.08 million on revenue of SAR112.13 million. Retail water segment expansion, increased table egg sales, and effective cost controls drove the strong performance.

Sport Clubs Signs Land Lease Deal

Sport Clubs Co.(6018.SA) signed a SAR22.75 million land lease contract with the Khamis Mushait Municipality to establish two new facilities under the Body Masters and Body Motions brands. The 5,550-square-meter site lease runs until 2051. This agreement aligns with the firm's regional expansion strategy, bringing its total projects currently under construction or awaiting licenses to 14.

Saudi Tadawul Group Q2 Profit Dips

Saudi Tadawul Group Holding Co.(1111.SA) reported a Q2 net profit of SAR92.1 million, slipping 4.3% year-over-year due to increased operating expenses. Conversely, quarterly revenue edged up 1.2% to SAR322.6 million, boosted by data and technology services growth. For the first half, profit dropped 31.9% to SAR147.7 million, on revenue of SAR617.1 million, largely weighed down by a decline in average daily trading value.

East Pipes CEO Sees Robust Demand

East Pipes Integrated Company for Industry(1321.SA) CEO Mohammed Darweesh said demand for water and energy infrastructure products remains strong, supported by oil, gas and water projects including East-West Pipeline, Master Gas 3 and Qiddiya. He said Hormuz uncertainty could spur GCC pipeline and storage investments, while higher logistics costs may weigh on next-quarter results before recovery claims offset much of the impact.

Chubb Arabia Settles Fire Claim

CHUBB Arabia Cooperative Insurance Co.(8240.SA) said it settled Mohammed Hadi Al Rasheed and Partners Co.’s insurance claim over a July 2025 factory fire in Dammam’s Third Industrial City for SAR42.01 million. The insurer said the loss was adequately covered by reinsurance, with the related provision recognized in fiscal 2025.

USA Stocks

Nvidia in Talks to Guarantee US$250B for OpenAI Data Center

NVIDIA Corporation(NVDA.US) is negotiating roughly US$250 billion in financial guarantees for OpenAI to back a massive data center project, potentially one of the AI boom's largest deals, the Wall Street Journal reported. The guarantees would help OpenAI lease SoftBank's 10-gigawatt Ohio campus, whose total cost, including chips, could top US$500 billion. Terms remain unfinalized, and the deal could collapse.

'Big Short' Burry Boosts Bets Against Micron, Nvidia

'Big Short' investor Michael Burry is deepening his short positions in Micron Technology, Inc.(MU.US), NVIDIA Corporation(NVDA.US) and other chipmakers, according to a Substack post. He said he shorted more Micron at US$933.86 and added to his Nvidia short at US$210.28. Burry also shorted more Caterpillar Inc.(CAT.US) at US$893.49 and increased his short in the PHLX Sox Semiconductor Sector Ishares(SOXX.US) at US$535.83.