By After weeks of turbulence driven by oil volatility and shifting investor sentiment, Saudi Arabia’s stock market showed signs of recovery as the Tadawul All Share Index (TASI) closed the week at 11,725.88 points, marking a modest rebound.
The market recorded a total trading volume of approximately $1.65 billion, driven by renewed investor interest in technology and chemical sectors, which posted some of the strongest gains of the week. The uptick follows recent reassurances from government and Public Investment Fund (PIF) officials emphasizing their long-term commitment to economic diversification and private-sector development under Vision 2030.
Technology stocks, buoyed by news of state-backed AI investments through the newly launched $10 billion HUMAIN venture fund, led the rally. HUMAIN’s ambitious plans to support global AI startups and forge strategic partnerships with firms like Nvidia and AWS have added momentum to the Kingdom’s broader digital transformation narrative.
Chemical companies, which represent a core component of the Saudi industrial base, also rallied. Analysts attribute this to stabilizing input costs and improved global demand forecasts—signs that Saudi Arabia’s non-oil export strategies may be gaining traction despite macroeconomic headwinds.
This week’s performance offers a glimmer of optimism for investors after a rough May that saw capital outflows and speculation over project slowdowns, including at NEOM and other flagship developments.
While market volatility is expected to persist amid continued oil price uncertainty, the recent uptick is being interpreted by some analysts as the beginning of a market stabilization phase, particularly if sector-specific growth remains resilient.
Still, challenges remain. Brent crude continues to trade below $80 per barrel, keeping pressure on fiscal projections. And while long-term diversification strategies are in place, short-term confidence may hinge on the pace at which delayed projects are recalibrated and relaunched.
For now, the Tadawul’s weekly gains signal a possible shift in sentiment — a reminder that even amid global scrutiny and domestic adjustments, pockets of growth and resilience remain within the Saudi market landscape.
