Market Movements Now | Aramco (2222) May China Exports Plunge to 10M; MESC (2370) Q1 Net Profit Soars 70%, Stock Up 5%; HB (6001) Sees 746.98% Surge in Volume
NADEC 6010.SA | 0.00 | |
ALMARAI 2280.SA | 0.00 | |
SAUDI ARAMCO 2222.SA | 0.00 | |
ALRAJHI 1120.SA | 0.00 | |
SNB 1180.SA | 0.00 |
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TASI Mid-Market Update — May 11, 2026
The Saudi Arabian benchmark index (Tadawul All Shares Index(TASI.SA)) recorded a 0.5% gain during Monday’s early trading session, diverging from a broader downward trend across most major Gulf equity markets.
The index's performance was primarily supported by a 0.3% appreciation in shares of Saudi Arabian Oil Co.(2222.SA). The energy major’s gains followed the disclosure of a 25% increase in first-quarter profit. Additionally, market sentiment was influenced by the company’s operational utilization of its East-West pipeline at full capacity, a strategic move to bypass ongoing maritime disruptions in the Strait of Hormuz.
This positive movement occurred despite heightening regional geopolitical tensions. While broader Gulf markets faced pressure from the stalling of U.S.-Iran diplomatic talks and continued security concerns in regional waters, TASI remained resilient, underpinned by domestic corporate earnings and the optimization of energy export infrastructure.
In the large-cap sector, Al Rajhi Bank(1120.SA) is seeing a slight dip of 0.66%. The Saudi National Bank(1180.SA) is retreating by 1.35%. Saudi Arabian Mining Co.(1211.SA) is edging higher by 0.8%. ACWA POWER Co.(2082.SA) is surging by 7.5%. Saudi Basic Industries Corp.(2010.SA) is rallying, 2%.
Notable News
Aramco May China Exports Plunge to 10M
Forecasts indicate Saudi Arabian Oil Co.(2222.SA) May shipments to China will plunge to a historic low of 333,333 barrels per day, compared to the 2025 average of 1.39 million, Reuters reported. Driven by an elevated $15.50 premium and US-Iran Hormuz disruptions, buyers including $Sinopec are slashing expected June orders, rerouting projected exports to Yanbu.
MESC Q1 Net Profit Soars 70%, Stock Up 5%
Middle East Specialized Cables Co.(2370.SA) reported a 69.7% year-on-year surge in net profit to SAR 32.58 million for Q1 2026, alongside a 36.42% increase in sales to SAR 462.47 million. Growth was driven by robust product demand and strengthened distribution channels, though financing costs soared 73.14% due to elevated copper prices. Consequently, earnings per share rose to SAR 0.81, as the company prioritizes market share expansion.
Seera Stock Rises Following Earnings Release
Seera Group Holding(1810.SA) reported a net profit of SAR 42 million for Q1 2026, a 13.5% year-on-year increase despite revenue falling 1.35% to SAR 1.089 billion. Growth in the Portman Travel Group and investment management income successfully mitigated geopolitical impacts on hospitality and mobility segments. Shares rose 5% as operational efficiency and diversified income streams improved earnings per share to SAR 0.154.
Flynas Q1 Net Profit Plunges 20%
Flynas Co.(4264.SA) reported a 20.3% year-on-year decline in net profit to SAR 117.9 million for Q1 2026, despite revenues surging 9.7% to SAR 2.0 billion. The earnings contraction followed higher fuel, maintenance, and wet-lease costs alongside lower unit revenues from capacity expansion. Gains from fuel hedging and increased passenger demand partially offset the downturn as the carrier prepares for the Q2 Hajj season.
Key Dividend Events
| Symbol | Announcement Date | Eligibility Date | Distribution Date | Dividend Amount |
|---|---|---|---|---|
| Saudi Awwal Bank(1060.SA) | 2026-02-23 | 2026-04-21 | 2026-05-11 | 1.00 |
| Saudi Cement Co.(3030.SA) | 2026-02-15 | 2026-04-29 | 2026-05-11 | 0.80 |
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New 52-Week High before 12:43 pm
| Symbol | 52W High Price |
|---|---|
| Gulf Insurance Group(8250.SA) | 28.40 |
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Significant Volume Surge before 12:43 pm
Top Gainers before 12:43 pm
| Symbol | Price (SAR) | Change % |
|---|---|---|
| National Agricultural Development Co.(6010.SA) | 17.58 | +9.94% |
| Almarai Co.(2280.SA) | 44.58 | +8.41% |
| Saudia Dairy and Foodstuff Co.(2270.SA) | 225.50 | +7.59% |
| ACWA POWER Co.(2082.SA) | 196.40 | +6.1% |
| Middle East Specialized Cables Co.(2370.SA) | 31.54 | +5.06% |
Top Losers before 12:43 pm
| Symbol | Price (SAR) | Change % |
|---|---|---|
| Jahez International Company for Information System Technology(6017.SA) | 13.31 | -4.93% |
| Fitaihi Holding Group(4180.SA) | 2.46 | -3.15% |
| Al Masar Al Shamil Education Co.(6019.SA) | 20.43 | -2.71% |
| Perfect Presentation for Commercial Services Co.(7204.SA) | 7.19 | -2.44% |
| Al Jouf Cement Co.(3091.SA) | 5.31 | -2.21% |