Market Movements Now | SpaceX Listing Lifts Kingdom (4280) to 52-Week High; Oil Slump Hits Energy, Petro Rabigh (2380) Down Over 8%; Dividend Events for Banan (4324), Alamar (6014)
KINGDOM 4280.SA | 0.00 | |
SAUDI GERMAN HEALTH 4009.SA | 0.00 | |
ALETIHAD 8170.SA | 0.00 | |
SAVOLA GROUP 2050.SA | 0.00 | |
JARIR 4190.SA | 0.00 |
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TASI Mid-Market Update — May 31, 2026
Saudi stocks rose on Sunday; as of press time, the Tadawul All Shares Index(TASI.SA) was up 0.34% and the Parallel Market Capped Index (NomuC)(NOMUC.SA) was up 0.23%.
Oil prices fell sharply on Friday, culminating in steep weekly and monthly losses as optimism grew over a potential resolution to the Middle East conflict and the reopening of the Strait of Hormuz. Brent crude dropped 12% last week, marking its worst weekly decline since early April, and fell 16% in May. West Texas Intermediate (WTI) crude slid 9.5% for the last week and 14.5% for the month. U.S. President Donald Trump commented on Truth Social, urging Iran to abandon nuclear ambitions and signaling progress in resolving the crisis.
On Sunday, most energy stocks declined, with Rabigh Refining and Petrochemical Co.(2380.SA) falling over 8% and Saudi Arabian Oil Co.(2222.SA) falling over 1%.
Notable News
Kingdom Holding's SpaceX Stake Could Exceed US$10.6B
Kingdom Holding Co.(4280.SA) revealed that its 0.63% stake in SpaceX, combined with Prince Alwaleed bin Talal’s private office, is valued at US$8.32 billion, based on a US$1.25 trillion valuation. If SpaceX reaches US$1.75 trillion, the stake could rise to US$10.55 billion.
Kingdom Holding shares climbed 19% over the past week, leading gains on the Saudi market.
Read more: SpaceX IPO Exposure: Which ETFs, Mutual Funds Own Biggest Share Of Elon Musk's Space Giant?
MGC Sets IPO at SAR 11–12.50; Individual Subscription Runs June 15–17
Mutlaq Al-Ghowairi Contracting Co. (MGC), with SAR 800 million in capital, announced plans to float 240 million shares, or 30% of its share capital, on TASI. Al Rajhi Capital and Morgan Stanley Saudi Arabia are managing the IPO process. The price range is set at SAR 11-12.5 per share. Retail investors can subscribe from June 15 to June 17. The company’s shares are divided into 800 million shares at SAR 1 each.
Middle East Healthcare Co. CEO Affirms No Financial Impact from Board Ruling
Nezar Bahabri, CEO of Middle East Healthcare Co.(4009.SA), stated that the recent ACRSD ruling has no financial impact on the company or its ownership structure. The decision, related to past accounting practices, doesn't involve embezzlement. Bahabri emphasized that the company continues its transformation strategy, focusing on enhancing governance and operational efficiency. The historical accounting issues have been resolved, and the company remains committed to maintaining high service quality.
Al-Etihad Insurance Launches Tourist Product
Al-Etihad Cooperative Insurance Co.(8170.SA) has secured final approval from the Insurance Authority to market and sell its "Tourist Insurance" product, aimed at individual tourists visiting Saudi Arabia. The approval, granted on May 24, comes under the identification number P-ETHD-2-I-26-073, as stated by the company in a Tadawul announcement.
Key Dividend Events
| Symbol | Announcement Date | Eligibility Date | Distribution Date | Dividend Amount |
|---|---|---|---|---|
| Banan Real Estate Co.(4324.SA) | 2026-06-17 | 2026-05-31 | 2026-06-17 | 0.035 |
| Alamar Foods Co.(6014.SA) | 2026-06-17 | 2026-05-31 | 2026-06-09 | 0.5 |
Related reads: When will users receive dividends?
New 52-Week High before 12:42 pm
| Symbol | 52W High Price |
|---|---|
| Savola Group(2050.SA) | 29.20 |
| Jarir Marketing Co.(4190.SA) | 15.77 |
| Kingdom Holding Co.(4280.SA) | 13.58 |
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Significant Volume Surge before 12:45 pm
| Symbol | Volume Change % | 3M Average Volume | Today's Volume So Far |
|---|---|---|---|
| Saudi Automotive Services Co.(4050.SA) | 109.41 | 322,003 | 674,299 |
| Saudi Industrial Development Co.(2130.SA) | 107.59 | 501,549 | 1,041,141 |
| Saudi Ground Services Co.(4031.SA) | 90.43 | 608,189 | 1,158,190 |
| Knowledge Economic City(4310.SA) | 78.87 | 190,818 | 341,319 |
| National Metal Manufacturing and Casting Co.(2220.SA) | 43.87 | 150,285 | 216,221 |
| Jazan Development and Investment Co.(6090.SA) | 29.61 | 82,615 | 107,076 |
Top Gainers before 12:53 pm
| Symbol | Price (SAR) | Change % |
|---|---|---|
| Kingdom Holding Co.(4280.SA) | 13.58 | +9.96% |
| Saudi Industrial Development Co.(2130.SA) | 13.88 | +9.90% |
| Electrical Industries Co.(1303.SA) | 16.67 | +6.79% |
| Thimar Development Holding Co.(4160.SA) | 32.54 | +5.72% |
| Almoosa Health Co.(4018.SA) | 145.70 | +5.58% |
Top Losers before 12:53 pm
| Symbol | Price (SAR) | Change % |
|---|---|---|
| Rabigh Refining and Petrochemical Co.(2380.SA) | 14.59 | -8.64% |
| SABIC Agri-Nutrients Co.(2020.SA) | 132.90 | -4.18% |
| Middle East Healthcare Co.(4009.SA) | 32.60 | -4.06% |
| Yanbu National Petrochemical Co.(2290.SA) | 32.80 | -3.64% |
| Saudi Research and Media Group(4210.SA) | 75.80 | -3.07% |