Saudi Press

Saudi Arabia and the world
Saturday, Aug 30, 2025

Saudi bourse suffers biggest fall in over a year after drone attacks

Saudi bourse suffers biggest fall in over a year after drone attacks

Saudi Arabia's stock market had its biggest intraday fall in over a year on Monday as it extended losses from the previous session following drone attacks.
The Saudi-led coalition fighting the Houthi movement in Yemen said its air defences destroyed a drone targeting Najran airport in the south of Saudi Arabia, state media reported on Sunday.Yemen's Iranian-aligned Houthi movement said on Saturday it had fired 14 drones at several Saudi Arabian cities, including at Saudi Aramco facilities in Jeddah.

Saudi Arabia's benchmark index (.TASI) fell 2.7%, its biggest intraday fall since Oct. 2020, with Al Rajhi Bank (1120.SE) down 4.5% and Saudi National Bank (1180.SE), the kingdom's biggest lender, retreating 3.7%.

The Saudi-led coalition said it detected indications of an imminent danger to navigation and global trade south of the Red Sea, Saudi state media reported early on Monday.

Among other losers, Aramco (2222.SE) dropped 1.8%.

The oil giant was also under pressure after India's Reliance Industries Ltd (RELI.NS) said on Friday it had decided with Aramco to reevaluate Aramco's proposed roughly $15 billion investment in Reliance's oil-to-chemicals (O2C) business.

However, Nayifat Finance Company (4081.SE), a consumer-focused Islamic finance firm, ended at 35.25 riyals per share, 3.6% above its initial public offering price of 34 riyals.

Dubai's main share index (.DFMGI) slid 2.6%, weighed down by a 4.3% decline in blue-chip developer Emaar Properties (EMAR.DU) and a 3.5% retreat in Emirates NBD Bank (ENBD.DU).

The Qatari index (.QSI) fell 0.9%, hit by a 2.8% drop in petrochemical maker Industries Qatar (IQCD.QA).

Oil prices, a major influence on the Gulf regions' financial markets, fell as rising COVID-19 cases in Europe and a potential release of Japanese oil reserves raised concerns about both oversupply and weak demand.

In Abu Dhabi, the index (.ADI), edged up 0.1%, helped by an increase in Alpha Dhabi Holding (ALPHADHABI.AD).

Beyond the Gulf, Egypt's blue-chip index (.EGX30) gained 0.8%, as most of the stocks on the index rebounded, including top lender Commercial International Bank (COMI.CA).
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Cristiano Ronaldo Makes Surprise Stop at New Hong Kong Museum
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
High-Stakes Trump-Putin Summit on Ukraine Underway in Alaska
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Nine people have been hospitalized and dozens of salmonella cases have been reported after an outbreak of infections linked to certain brands of pistachios and pistachio-containing products, according to the Public Health Agency of Canada
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
Tariffs, AI, and the Shifting U.S. Macro Landscape: Navigating a New Economic Regime
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
OpenAI’s Bold Bet: Teaching AI to Think, Not Just Chat
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
×