Market Movements Now | EIC (1303) Breaks Out to 52W High; ACWA Power (2082) Appoints New Vice Chairman; Brent Q2 Forecast Tumbles 9 Dollars
GULF GENERAL 8260.SA | 3.97 | -1.49% |
EIC 1303.SA | 17.35 | +0.99% |
ALRAJHI 1120.SA | 107.60 | -0.46% |
MAADEN 1211.SA | 72.10 | +3.22% |
ACWA 2082.SA | 168.00 | +0.90% |
TASI Mid-Market Update — April 9, 2026
The Saudi Arabian benchmark index Tadawul All Shares Index(TASI.SA) edged lower during early Thursday trading, declining more than 0.2% as regional geopolitical developments weighed on investor sentiment. The market's performance comes amid renewed concerns regarding the stability of the regional ceasefire and reports of strikes impacting energy infrastructure.
Performance among blue-chip constituents was mixed:
- The Saudi National Bank(1180.SA): The Kingdom’s largest lender saw a decline of 0.5%, contributing to the index's downward pressure.
- Saudi Arabian Oil Co.(2222.SA): The energy giant bucked the broader trend, gaining 0.3%. The stock was supported by a rise in global oil prices and the company’s capacity to maintain export routes despite regional disruptions.
In the commodities market, Brent crude futures advanced more than 3% to $97.9 a barrel. The uptick in oil prices follows reports of strikes on regional pipeline infrastructure and heightened concerns over potential supply chain constraints. While higher energy prices provided a buffer for the petroleum sector, broader market activity remained cautious as investors assessed the implications of prolonged geopolitical and inflationary risks.
In the large-cap sector, Al Rajhi Bank(1120.SA) is holding steady. Saudi Arabian Mining Co.(1211.SA) is posting a gain of 0.3%. ACWA POWER Co.(2082.SA) is under pressure, dropping 2%. Saudi Basic Industries Corp.(2010.SA) gains 0.7%.
Notable News
ACWA Power Appoints New Vice Chairman
ACWA POWER Co.(2082.SA) appointed Yazeed bin Abdulrahman Al-Humaid as Vice Chairman on April 8, 2026, while company shares fell 2.59% following the announcement. The move follows the resignation of Raad bin Omar Al-Saadi from the vice chairmanship to focus on his ongoing duties as Managing Director. These appointments take immediate effect for the remainder of the board's term.
Brent Q2 Forecast Tumbles 9 Dollars
Goldman Sachs Group, Inc.(GS.US) lowered its Q2 2026 Brent forecast to $90 and WTI to $87 following a two-week US-Iran ceasefire. The reduction reflects a narrowing risk premium and increased Strait of Hormuz oil flows.
Goldman's third- and fourth‑quarter oil price forecasts were at $82 and $80 for Brent and $77 and $75 for WTI, respectively. However, the bank maintains an upside bias due to potential long-term production disruptions.
Shalfa Board Approves Main Market Transition
Shalfa Facilities Management Co.(9613.SA) approved its transition from the Nomu-Parallel Market to the TASI Main Market, utilizing its SAR 42 million capital base. The board appointed Value Capital as financial advisor to oversee the regulatory file. The move, following its November 2024 listing, awaits Capital Market Authority consent and fulfillment of all official listing requirements.
Key Dividend Events
| Symbol | Announcement Date | Eligibility Date | Distribution Date | Dividend Amount |
|---|---|---|---|---|
| Al Mawarid Manpower Co.(1833.SA) | 2026-03-30 | 2026-04-09 | 2026-04-23 | 1.40 |
| Abdullah Al Othaim Markets Co.(4001.SA) | 2026-03-15 | 2026-03-26 | 2026-04-09 | 0.06 |
| Nahdi Medical Co.(4164.SA) | 2026-03-09 | 2026-03-29 | 2026-04-09 | 3.00 |
| Fourth Milling Co.(2286.SA) | 2026-03-08 | 2026-03-16 | 2026-04-09 | 0.13 |
Related reads: When will users receive dividends?
New 52-Week High before 12:57 pm
| Symbol | 52W High Price |
|---|---|
| Saudi Aramco Base Oil Co.(2223.SA) | 111.50 |
| Electrical Industries Co.(1303.SA) | 17.65 |
Significant Volume Surge before 12:57 pm
| Symbol | Volume Change % | 3M Average Volume | Today's Volume So Far |
|---|---|---|---|
| Gulf General Cooperative Insurance Co.(8260.SA) | +490.04% | 226,593 | 1,336,979 |
| Saudi Industrial Development Co.(2130.SA) | +455.76% | 332,242 | 1,846,472 |
| Arab Sea Information System Co.(7201.SA) | +407.24% | 615,254 | 3,120,827 |
| Gulf Union Alahlia Cooperative Insurance Co.(8120.SA) | +180.65% | 102,777 | 288,447 |
| Middle East Paper Co.(1202.SA) | +148.55% | 633,010 | 1,573,322 |
| Saudi Printing and Packaging Co.(4270.SA) | +146.22% | 287,167 | 707,069 |
| United Cooperative Assurance Co.(8190.SA) | +143.51% | 622,837 | 1,516,665 |
| Sustained Infrastructure Holding Co.(2190.SA) | +129.13% | 467,760 | 1,071,789 |
| Miahona Co.(2084.SA) | +113.66% | 557,718 | 1,191,644 |
| Musharaka REIT Fund(4335.SA) | +102.98% | 47,195 | 95,797 |
| Middle East Specialized Cables Co.(2370.SA) | +88.42% | 518,811 | 977,552 |
| Saudi Company for Hardware(4008.SA) | +84.73% | 109,813 | 202,860 |
| Emaar The Economic City(4220.SA) | +80.39% | 608,660 | 1,097,981 |
Top Gainers before 12:57 pm
| Symbol | Price (SAR) | Change % |
|---|---|---|
| Gulf General Cooperative Insurance Co.(8260.SA) | 4.14 | +5.34% |
| Electrical Industries Co.(1303.SA) | 17.46 | +4.05% |
| Seera Group Holding(1810.SA) | 23.33 | +3.23% |
| Saudi Industrial Export Co.(4140.SA) | 2.33 | +3.1% |
| Sustained Infrastructure Holding Co.(2190.SA) | 32.06 | +3.02% |
Top Losers before 12:57 pm
| Symbol | Price (SAR) | Change % |
|---|---|---|
| Saudi Company for Hardware(4008.SA) | 24.34 | -4.92% |
| Saudi Vitrified Clay Pipes Co.(2360.SA) | 18.12 | -4.38% |
| Middle East Paper Co.(1202.SA) | 17.05 | -4.16% |
| Saudi Research and Media Group(4210.SA) | 81.80 | -3.82% |
| Saudi Fisheries Co.(6050.SA) | 43.40 | -3.34% |