Saudi stocks rose for the second consecutive session, supported by gains in the energy and utilities sectors, despite pressures from banks and basic materials.

The TASI index closed at 10,804 points, up 0.3%, boosting its gains over two sessions to 105 points, or 1%, surpassing the 10,800-point level. Meanwhile, trading value reached 4 billion riyals, up 7%.

The performance was in line with previous analysis regarding the market's direction towards levels near 10,850 points.

Prices of 130 companies rose, compared to 121 declining and the rest stable, reflecting the market's positive bias, but with a narrower breadth than the previous session.

Closing of the session on July 23, 2026

Closed at the session's high

The index opened at 10,778 points, before declining 0.4%. But it later reversed direction, recovering more than 71 points from the bottom, to close at the highest level of the session. Closing at the high reflects improved demand in the latter part of trading, after rising sectors absorbed early selling pressure.

Capital goods lead gains

12 sectors out of 22 rose, with the capital goods sector leading gains, up 4.1%, supported by a rise in 'Electrical Industries' hitting the upper limit, along with 'Riyadh Cables' and 'Al Babtain' at lower rates of about 3%.

The energy sector also rose 1%, driven by an increase in 'Saudi Aramco', making it the top sector supporting the green points.

Banking sector declines

In contrast, the banking sector fell 0.3%, with declines in 'Al Rajhi' by 0.5% and 'Al Ahli' by 0.9%, while the basic materials sector dropped 0.50% under pressure from 'SABIC', 'SABIC Agri-Nutrients', and 'Yansab'.