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TASI Mid-Market Update — Aug 10, 2026

Saudi Arabia's benchmark Tadawul All Shares Index(TASI.SA) up by 0.3% on Monday, weighed down by a 0.3% decline in Al Rajhi Bank. Maharah Human Resources Co. dropped 8% following a sharp decrease in its second-quarter net profit. Conversely, Saudi Aramco gained 0.3%.

Regional trading sentiment remained cautious amid ongoing geopolitical developments affecting energy supply security and diplomatic negotiations. In global energy markets, Brent crude futures traded virtually flat at $83.54 per barrel, down 1 cent.

In the large-cap sector, The Saudi National Bank(1180.SA) is edging higher by 0.2%. Saudi Arabian Mining Co.(1211.SA) is rallying, 3.00%. ACWA POWER Co.(2082.SA) is easing by 0.3%. Saudi Basic Industries Corp.(2010.SA) is down by 0.2%.

Notable News

Jahez Schedules Q2 Earnings Call for August 17

Jahez International Company for Information System Technolog(6017.SA) reported an H1 2026 net loss of SAR 26.6 million, down from a SAR 58.9 million profit a year earlier, despite revenue rising 36.1% to SAR 1.5 billion. For Q2 2026, net loss reached SAR 17.4 million as elevated marketing spend and Snoonu expansion costs offset higher orders.

Maharah Shares Tumbling 7.8% Post Earnings

Maharah Human Resources Co.(1831.SA) reported an H1 2026 net profit of SAR 132.3 million, up 48.9% year-on-year, driven by expanding workforce numbers in corporate and individual sectors. The company's shares tumbled 7.8% following the release, while the external auditor issued a qualified conclusion over missing associate data.

ADES Q2 Net Profit Drops 32%

Ades Holding Co.(2382.SA) reported a 31.9% year-on-year drop in Q2 2026 net profit to SAR 128.5 million, impacted by temporary offshore rig suspensions and non-recurring insurance costs. Revenue for the quarter rose 36.4% to SAR 2.15 billion, while H1 2026 revenue jumped 49.0% to SAR 4.54 billion, supported by the Shelf Drilling acquisition and international expansion.

Arabian Drilling Surges 5%, Posts H1 Net Loss

Arabian Drilling Co.(2381.SA) reported an H1 2026 net loss of SAR 24.5 million, down from a net profit of SAR 82.7 million a year earlier, as revenue fell 10.6% to SAR 1.59 billion due to lower rig utilization rates and temporary offshore suspensions. Despite the loss, its shares surged 5.02% to SAR 5.02 following the announcement.

Al Rajhi’s First ETF Starts Trading Today

Al Rajhi Capital has launched its first exchange-traded fund, the Al Rajhi MSCI Saudi Equity ETF, marking its entry into Saudi Arabia’s growing ETF market. Approved by the Capital Market Authority in June 2026, the Shariah-compliant fund began trading on Tadawul’s Main Market on Aug. 10 under ticker Al Rajhi MSCI Saudi Equity ETF(9413.SA) after raising SAR 100 million during its initial offering. The ETF tracks the MSCI Saudi Arabia Domestic Total Market Islamic M-Series Index, providing exposure across large, mid and small caps. With a 0.25% annual management fee, the fund joins Albilad MSCI Saudi Equity ETF(9412.SA) as another ETF tracking the same benchmark.

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