Market Movements Now | TASI Returns to Recent High as CMA Reviews Foreign Ownership Limits; EIC (1303), Al-Babtain (2320) to 52W Highs; Aramco (2222) Completes Bond Issuance
GO TELECOM 7040.SA | 88.80 | +1.25% |
CHEMICAL 2230.SA | 7.71 | -2.53% |
ACWA 2082.SA | 169.50 | -1.57% |
MAADEN 1211.SA | 65.40 | 0.00% |
SAUDI ARAMCO 2222.SA | 27.60 | +0.15% |
TASI Mid-Market Update — February 3, 2026
The Saudi benchmark index Tadawul All Shares Index(TASI.SA) trended higher during Tuesday’s morning session, advancing 0.2% as investors balanced the start of the corporate earnings season with evolving geopolitical developments in the region.
The index's upward momentum was primarily supported by key players in the utilities and materials sectors:
- ACWA POWER Co.(2082.SA): Shares rose 1% in early trade.
- Saudi Arabian Mining Co.(1211.SA) (Ma’aden): Shares increased by 2%.
Broader market sentiment remains underpinned by preliminary government estimates indicating that Saudi Arabia’s economy expanded by 4.9% year-on-year in the fourth quarter. This growth was driven by a 10.4% surge in oil-related activities—reflecting increased production levels during the second half of the year—complemented by sustained strength across non-oil sectors.
Global energy giant Saudi Arabian Oil Co.(2222.SA) recorded a modest loss of 0.3%.
Al Rajhi Bank(1120.SA) decreases by 0.4%, and The Saudi National Bank(1180.SA) trades 0.3% lower.
Notable News
CMA Reviews Foreign Ownership Limits
CAPITAL MARKET AUTHORITY board member Abdulaziz bin Hassan confirmed a review of foreign ownership limits, targeting completion in 2026. Currently capped at 10% per investor and 49% total, the move follows the Feb. 1 opening of the Saudi Exchange to all non-resident foreign investor categories.
Aramco Completes $4 Billion Bond Issuance
Saudi Arabian Oil Co.(2222.SA) completed a $4 billion U.S. dollar-denominated bond issuance across 3, 5, 10, and 30-year tenors. The 20,000 unsecured notes offer returns ranging from 4.000% to 6.000%. Proceeds follow the Global Medium Term Note Programme, with listing planned for the London Stock Exchange.
GO Telecom Quarterly Profit Jumps 27% YoY
Etihad GO Telecom Co.(7040.SA) reported a 22.36% increase in nine-month net profit to SAR 197 million, driven by a 34.26% revenue surge to SAR 1.395 billion. Quarterly sales reached SAR 489 million, up 28% YoY, bolstered by B2B expansion and the full integration of its Ejad Technology subsidiary.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 489 | 382 | 28.01 | 470 | 4.042 |
| Gross Profit (Loss) | 135 | 107 | 26.168 | 134 | 0.746 |
| Operational Profit (Loss) | 78 | 56 | 39.285 | 66 | 18.181 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 70 | 55 | 27.272 | 65 | 7.692 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 70 | 55 | 27.272 | 65 | 7.692 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 1,395 | 1,039 | 34.263 |
| Gross Profit (Loss) | 390 | 302 | 29.139 |
| Operational Profit (Loss) | 213 | 166 | 28.313 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 197 | 161 | 22.36 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 197 | 161 | 22.36 |
| Total Shareholders Equity (after Deducting Minority Equity) | 952 | 709 | 34.273 |
| Profit (Loss) per Share | 5.79 | 4.72 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
Key Dividend Events
| Symbol | Announcement Date | Eligibility Date | Distribution Date | Dividend Amount |
| Mulkia Gulf Real Estate REIT(4336.SA) | 2026-01-29 | 2026-02-03 | - | SAR 0.08 |
Related reads: When will users receive dividends?
New 52-Week High before 1:10 pm
| Symbol | 52W High Price |
|---|---|
| Electrical Industries Co.(1303.SA) | 14.08 |
| Rasan Information Technology Co.(8313.SA) | 145.40 |
| Al-Babtain Power and Telecommunication Co.(2320.SA) | 72.00 |
Significant Volume Surge before 1:10 pm
Top Gainers before 1:10 pm
| Company | Price | Change |
|---|---|---|
| Etihad GO Telecom Co.(7040.SA) | 98.75 | 7.05% |
| Saudi Chemical Co.(2230.SA) | 8.19 | 6.23% |
| Arabian Contracting Services Co.(4071.SA) | 126.60 | 5.32% |
| United Carton Industries Co.(1323.SA) | 26.70 | 5.2% |
| Saudi Industrial Export Co.(4140.SA) | 2.51 | 3.29% |
Top Losers before 1:10 pm
| Company | Price | Change |
|---|---|---|
| Elm Co(7203.SA) | 754.00 | -2.08% |
| Makkah Construction and Development Co.(4100.SA) | 90.00 | -1.75% |
| Knowledge Economic City(4310.SA) | 12.88 | -1.6% |
| Specialized Medical Co.(4019.SA) | 20.79 | -1.47% |
| Nahdi Medical Co.(4164.SA) | 100.50 | -1.37% |