TASI Rises 0.9% as Banking Shares Lead Fifth Gain

The Saudi stock market's benchmark Tadawul All Share Index (TASI) closed 0.9 percent higher in the session of 24 August 2026, its fifth consecutive rise, as gains in financial, utilities, and materials shares outweighed pressure from softer oil prices.

Banking and other financial stocks were among the main drivers of the advance, helping offset weakness in energy shares linked to lower crude prices. A day earlier, on 23 August, the index had already climbed 1.1 percent, led by materials and financial names, with Al Rajhi Bank rising 2.1 percent and Saudi Arabian Mining Company (Ma'aden) gaining 4 percent.

The recent momentum caps a strong month. Across August 2026, TASI posted a 5.1 percent monthly gain, lifting its year-to-date performance to 6.1 percent. Banking stocks such as Banque Saudi Fransi, Saudi National Bank, and Alinma Bank recorded double-digit monthly gains, while energy shares — including Saudi Aramco — lagged with about a 1.2 percent rise and occasional declines.

Why it matters

For residents and investors following the Saudi market, the pattern highlights how the banking sector has become a key support for the index, backed by strong credit growth and demand for project financing. In the first half of 2026, TASI gained about 2.9 percent, with banks up around the same amount, while materials and energy delivered positive but more volatile returns.

Energy remains the heaviest weight on the index, at roughly 60 percent of total market capitalisation, followed by banks and financials at about 15 to 20 percent. That balance means swings in oil-linked shares can shape headline moves, even as financial stocks increasingly steer daily direction.

---

Stay updated with the latest news, events, sports updates, business insights, real estate and lifestyle stories on Saudi Living — the leading online platform for residents, expats, and visitors in Saudi Arabia.

Follow Saudi Living for daily updates:

• Instagram - @saudiliving
• X - @saudiliving
• Facebook - @saudiliving
• YouTube - @saudiliving