Market Movements Now | Goldman Sachs Sees ~22% Upside For Maaden (1211); Seera (1810) Cuts Excess Capital; 6 Saudi Stocks to 52-Week Highs
SAUDI CABLE 2110.SA | 0.00 | |
FOURTH MILLING 2286.SA | 0.00 | |
ACWA 2082.SA | 0.00 | |
ALRAJHI 1120.SA | 0.00 | |
SNB 1180.SA | 0.00 |
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TASI Mid-Market Update — June 3, 2026
Saudi Arabia's benchmark index Tadawul All Shares Index(TASI.SA) bucked the regional trend to edge 0.2% higher in early trade on Wednesday, before turned to a loss of 0.2% at the time of this reporting. The index's early gains were primarily supported by a 1.1% rise in ACWA POWER Co.(2082.SA).
This upward movement occurred despite a broader decline across most major Gulf stock markets, which faced downward pressure following a renewed escalation of regional geopolitical hostilities after U.S.-Iran peace talks stalled.
In the large-cap sector, Al Rajhi Bank(1120.SA) is holding steady. The Saudi National Bank(1180.SA) and Saudi Arabian Mining Co.(1211.SA) are both seeing declines, moving 0.31% and 0.32% respectively. Saudi Basic Industries Corp.(2010.SA) is retreating by 1.3%. Saudi Arabian Oil Co.(2222.SA) is seeing a slight dip of 0.4%.
Notable News
Goldman Sachs Sees ~22% Upside For Maaden
Saudi Arabian Mining Co.(1211.SA) previously reported a Q1 2026 net profit of SAR 1.64 billion, drawing mixed outlooks (average target price of SAR 65.3) from prominent institutions like Goldman Sachs, which set a high target of SAR 77.6, and EFG Hermes, which assigned a low of SAR 46. Riyad Capital noted earnings were driven by strong gold and aluminum prices and a one-off insurance claim, offsetting volume pressures from suspended mines and Strait of Hormuz shipping disruptions. Moving forward, SICO Bank expects regional market tightness to benefit the company as it executes a $110 billion capital expenditure plan to triple its asset base over the next decade.
Seera Cuts Excess Capital
Seera Group Holding(1810.SA) shareholders approved an 8.65% capital reduction to SAR 2.74 billion from SAR 3 billion during an extraordinary general meeting on June 2. The overcapitalized company will cancel 25.95 million treasury shares, reducing total shares to 274 million. Management confirmed this structural reduction will have no impact on the firm's financial obligations.
Key Dividend Events
| Symbol | Announcement Date | Eligibility Date | Distribution Date | Dividend Amount |
|---|---|---|---|---|
| East Pipes Integrated Company for Industry(1321.SA) | 2026-05-13 | 2026-06-03 | 2026-06-15 | 4.00 |
| Saudi Chemical Co.(2230.SA) | 2026-03-15 | 2026-05-13 | 2026-06-03 | 0.10 |
Related reads: When will users receive dividends?
New 52-Week High before 12:28 pm
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Significant Volume Surge before 12:28 pm
| Symbol | Volume Change % | 3M Average Volume | Today's Volume So Far |
|---|---|---|---|
| ARTEX Industrial Investment Co.(2340.SA) | +435.86% | 109,423 | 586,354 |
| Fourth Milling Co.(2286.SA) | +224.2% | 1,752,509 | 5,681,630 |
| Saudi Automotive Services Co.(4050.SA) | +136.51% | 348,390 | 823,966 |
| Saudi Industrial Development Co.(2130.SA) | +111.96% | 578,008 | 1,225,139 |
| Takween Advanced Industries Co.(1201.SA) | +109.95% | 267,918 | 562,483 |
| Amana Cooperative Insurance Co.(8310.SA) | +99.18% | 478,123 | 952,345 |
| Banan Real Estate Co.(4324.SA) | +76.04% | 176,584 | 310,860 |
| Salama Cooperative Insurance Co.(8050.SA) | +63.22% | 144,584 | 235,983 |
| 9410(9410.SA) | +57.68% | 8,277 | 13,051 |
| Al Hammadi Holding(4007.SA) | +52.97% | 281,194 | 430,139 |
| Wataniya Insurance Co.(8300.SA) | +51.41% | 306,860 | 464,608 |
| Canadian Medical Center Co.(4021.SA) | +43.58% | 653,699 | 938,608 |
| Al Sagr Cooperative Insurance Co.(8180.SA) | +40.82% | 291,118 | 409,965 |
Top Gainers before 12:28 pm
| Symbol | Price (SAR) | Change % |
|---|---|---|
| Saudi Cable Co.(2110.SA) | 158.00 | +4.15% |
| Fourth Milling Co.(2286.SA) | 4.35 | +4.07% |
| Saudi Enaya Cooperative Insurance Co.(8311.SA) | 11.91 | +3.57% |
| Wataniya Insurance Co.(8300.SA) | 13.12 | +3.31% |
| Savola Group(2050.SA) | 28.70 | +3.31% |
Top Losers before 12:28 pm
| Symbol | Price (SAR) | Change % |
|---|---|---|
| 7205(7205.SA) | 12.88 | -2.79% |
| Makkah Construction and Development Co.(4100.SA) | 85.55 | -2.62% |
| Jahez International Company for Information System Technology(6017.SA) | 14.13 | -2.48% |
| Al Majed Oud Co.(4165.SA) | 138.20 | -2.19% |
| Saudi Steel Pipe Co.(1320.SA) | 54.10 | -2.08% |