Saudi Arabia’s benchmark Tadawul All Share Index (TASI) fell more than 170 points, or 1.8%, on Thursday, slipping below 9,800 points for the first time since April 2021, according to market data from Argaam.
The drop came about an hour and a half after the market opened. Turnover by then had passed SR1.3 billion.
Most stocks traded lower. Saudi Aramco fell 1% and Saudi National Bank dropped 4%.
Maaden, Banque Saudi Fransi, ACWA Power, Alinma Bank, SABIC Agri-Nutrients, Saudi Awwal Bank, Riyad Bank and Dr. Sulaiman Al Habib Medical Services fell between 1% and 4%.
Saudi Electrical Industries was the biggest decliner, down 10%.
Shares of 34 companies and units of four real estate investment trusts fell to their lowest levels since listing on the Main Market during the session, data compiled by Argaam showed.
They included food delivery firm Jahez, which touched SR9.95 against a closing price of SR46.99 on its January 2022 debut, and exchange operator Saudi Tadawul Group, which touched SR106.70 against SR118 on its December 2021 debut.
The selling follows a deadly incident at Aramco’s Shaybah oil field and an attack on King Fahd International Airport in Dammam this week.
The index had already closed at its lowest level since April 2021 on Tuesday.
