
Saudi Cable, MIS, and SEDCO Capital REIT each hit 52-week highs on TASI on June 15. The moves reflect rotation into smaller domestic plays tied to infrastructure and real estate.
Shares of Saudi Cable and MIS, along with units of SEDCO Capital REIT, each touched their highest levels in 52 weeks on the Saudi stock exchange on June 15, data compiled by Argaam showed.
Saudi Cable rose 3.2% on the session. The company supplies power and telecom cables for projects tied to the kingdom's infrastructure push under Vision 2030. Its shares have been climbing since early 2024 as government spending on utilities and transport accelerates. No specific corporate announcement accompanied the move, traders said.
MIS, a smaller-cap information technology firm, added 2.8%. The company provides software and systems integration services to government and corporate clients. Its stock has gained on expectations of higher digitization spending in Saudi Arabia. The session's high came on thin volumes, which some market participants said could limit follow-through.
SEDCO Capital REIT, a real estate investment trust, gained 1.9%. The REIT owns a portfolio of commercial and residential properties in the kingdom. Its units have been supported by a relatively stable interest rate outlook in Saudi Arabia and strong rental demand in Riyadh and Jeddah. The 52-week high puts the trust's total return since listing at roughly 12%, excluding dividends.
The broader TASI index was higher on the session, narrowing its year-to-date decline to about 4%. The three stocks outpaced the index significantly on the day.
Investor focus has shifted back to Saudi equities after a period of consolidation. The market had pulled back in April and May on concerns about oil price volatility and global rate uncertainty. Selective buying has returned to names with direct exposure to domestic growth drivers. Infrastructure and real estate remain the two sectors with the most consistent inflows, traders said.
SEDCO Capital REIT's performance also reflects the broader REIT sector's recovery. Saudi-listed REITs have risen an average of 7% from their March lows, helped by the Saudi central bank's decision to hold its benchmark rate steady in May. That kept borrowing costs for property owners stable, a key factor for yield-focused investors.
For Saudi Cable, the next catalyst is the release of second-quarter order backlog data, expected in July. MIS has no scheduled events. SEDCO Capital REIT will report its half-year net asset value in August. Until then, the stocks are likely to trade on sector momentum and broader market direction.
The three names are not the largest in TASI by market cap. Their 52-week highs signal that money is rotating into smaller, domestically focused plays. That pattern often precedes broader market strength, some analysts noted. The thin volumes on MIS and the single-stock nature of the moves suggest the rally remains concentrated.
For more on Saudi market trends, see AlphaScala's stock market analysis coverage.
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