Market Movements Now | Red Sea (4230) Rises 3% after Wins SAR 352.6M Contract; Sharqiyah Dev (6060) Surges 7% with Massive 726.43% Volume Spike; 1 Stock Hits 52W High
SFICO 6050.SA | 0.00 | |
SHARQIYAH DEV 6060.SA | 0.00 | |
ALRAJHI 1120.SA | 0.00 | |
SNB 1180.SA | 0.00 | |
MAADEN 1211.SA | 0.00 |
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TASI Mid-Market Update — June 23, 2026
Major Gulf equity markets declined during early trade on Tuesday, driven by regional geopolitical shifts and mounting expectations of tighter U.S. monetary policy.
The downturn followed a U.S. waiver allowing Iran to sell oil for 60 days under a preliminary peace agreement, which triggered a decline of more than 3% in crude prices. Additionally, global market sentiment softened as CME Group’s FedWatch tool indicated a 54% implied probability of at least two 25-basis-point interest rate hikes by the Federal Reserve before the end of the year, up from 15.2% a week prior.
Saudi Arabia's benchmark index (Tadawul All Shares Index(TASI.SA)) eased 0.14% in early trading, heavily influenced by a 0.15% drop in Al Rajhi Bank(1120.SA). Brent crude futures also fell $1.09, or 1.4%, to $76.81 a barrel on Tuesday morning. Because most regional currencies in the Gulf are pegged to the U.S. dollar, local financial markets remain highly sensitive to revisions in U.S. interest rate projections.
In the large-cap sector, The Saudi National Bank(1180.SA) is posting a gain of 0.35%. Saudi Arabian Mining Co.(1211.SA) is posting a gain of 0.1%. ACWA POWER Co.(2082.SA) and Saudi Basic Industries Corp.(2010.SA) are both seeing declines, moving 0.35% and 0.46% respectively. Saudi Arabian Oil Co.(2222.SA) is edging higher by 0.15%.
Notable News
Red Sea Rises 3% after Wins SAR 352.6M Contract
Red Sea International Co.(4230.SA) announced that its subsidiary signed a SAR 352.6 million subcontract with Salini Saudi Arabia Co. Ltd. for MEP works in a Diriyah City project. The 454-day contract will have a financial impact starting from Q2 2026. Following the announcement, the company's stock rose 3%.
Key Dividend Events
| Symbol | Announcement Date | Eligibility Date | Distribution Date | Dividend Amount |
|---|---|---|---|---|
| Al-Babtain Power and Telecommunication Co.(2320.SA) | 2026-05-19 | 2026-06-09 | 2026-06-23 | 0.50 |
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New 52-Week High before 12:22 pm
| Symbol | 52W High Price |
|---|---|
| Al Moammar Information Systems Co.(7200.SA) | 221.20 |
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Significant Volume Surge before 12:22 pm
Top Gainers before 12:22 pm
| Symbol | Price (SAR) | Change % |
|---|---|---|
| Saudi Fisheries Co.(6050.SA) | 53.95 | +9.12% |
| Ash-Sharqiyah Development Co.(6060.SA) | 13.62 | +7.24% |
| United Cooperative Assurance Co.(8190.SA) | 3.45 | +5.5% |
| Raydan Food Co.(6012.SA) | 15.44 | +4.68% |
| Saudi Vitrified Clay Pipes Co.(2360.SA) | 17.31 | +3.22% |
Top Losers before 12:22 pm
| Symbol | Price (SAR) | Change % |
|---|---|---|
| Consolidated Grunenfelder Saady Holding Co.(4147.SA) | 7.08 | -8.65% |
| Arabian Pipes Co.(2200.SA) | 7.03 | -4.61% |
| SHL Finance Co.(1183.SA) | 14.90 | -4.06% |
| Sustained Infrastructure Holding Co.(2190.SA) | 34.66 | -3.45% |
| Kingdom Holding Co.(4280.SA) | 12.29 | -3.0% |