Five TASI Stocks Hit Record Lows Since Listing

Shares of five companies on Saudi Arabia's Tadawul stock exchange fell to their lowest levels since their respective market debuts on July 20, according to data compiled by Argaam.

The decline hit a range of sectors. Among the stocks that touched new post-listing lows were Alwasail Industrial Co., Saudi Cable Co., and Saudi Pharmaceutical Industries and Medical Appliances Corp., the data showed.

Tadawul's main index, the TASI, was trading lower on the session, tracking regional weakness. The broader market move added pressure to individual names already facing sector-specific headwinds, traders said.

No further details on the exact percentage declines for each stock were immediately available from the Argaam data set.

The five stocks that hit fresh lows join a list of Tadawul-listed companies that have struggled to maintain their IPO prices or early trading levels amid shifting investor sentiment and sector rotation in the Saudi market this year.