Shares of 103 companies listed on Saudi Arabia's TASI index and units of AlJazira REIT fell to 52-week lows on March 1, according to Argaam data. Key performers included Naseej (-81%), SRMG (-65%), Red Sea (-64%), and Saudi German Health (-63%), reflecting broad-based weakness across sectors. The decline highlights sustained pressure on Saudi equities amid mixed global market conditions and domestic economic uncertainties. This widespread slump signals deteriorating investor confidence in the TASI, with over 100 stocks trading near or at multi-year lows. Traders should monitor sector-specific vulnerabilities, particularly in healthcare, energy, and industrial stocks, which showed significant declines. The performance of large-cap blue-chip stocks will be critical in determining the index's near-term trajectory. For Gulf investors, the 52-week lows underscore the need for caution in equity allocations. Watch for potential central bank interventions or policy support measures that could stabilize the market. Technical indicators suggest key support levels at 10,500 points for the TASI, with a breakdown below this level likely to trigger further downward momentum.
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