Saudi Market Surges on Strong Trading Activity

The Saudi stock market closed with gains on May 31, as the TASI index climbed 46.02 points to finish at 11,073.56 points, representing a 0.42% increase. Trading volume reached approximately 3.48 billion riyals across roughly 185.88 million shares.

Breadth of market advance was notably positive, with 191 shares posting gains against 68 decliners among the 270 listed companies. This two-to-one ratio of gainers to losers reflected broad-based strength across the market.

Sadq, Kingdom Holding, and Comprehensive Path led the gainers, advancing 9.98%, 9.96%, and 9.16% respectively. Kingdom Holding's performance proved particularly noteworthy, with shares reaching 13.58 riyals—their highest point since January 2016. Market participants attributed the momentum to expectations that the company would benefit from its SpaceX stake following the space company's Wall Street offering, which valued SpaceX at approximately $1.25 trillion.

Kingdom Holding has delivered substantial returns for investors this year, with shares up 7.96% since the start of 2026 and gaining 55% over the past 52-week period.

On the downside, Petro Rabigh led decliners with a 6.3% drop, followed by Senomi Retail down 5.83% and Saudi German Health declining 5%.