TASI jumps 84% in six years since COVID-19 low

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Six years have passed since the March 2020 low, when the Saudi benchmark hit its lowest level since 2016, falling 5.2% during the session to 5,960 points as several stocks hit their lower limits.

 

The decline came amid the fallout from the COVID-19 pandemic, as Saudi Arabia intensified precautionary measures to curb the spread of the virus.

 

Since then, TASI has risen from 5,960 points on March 16, 2020 — its lowest level during the pandemic — to about 10,946 points on March 16, 2026, gaining about 4,986 points, or 84%.

 

TASI performance since March 2020 bottom

 Period

March 16, 2020

March 16, 2026

Change (Points)

Change (%)

TASI

5,960

10,946

+4,986%

+84%
 

Electrical Industries Co. topped the list of best-performing stocks in the market since the March 16, 2020 bottom, posting gains of around 2,867%. It was followed by Astra Industrial Group with a 996% increase, then Saudi Paper Manufacturing Co. (SPM) at nearly 820%, Etihad GO Telecom Co. (GO Telecom) at 792%, and Al Moammar Information Systems Co. (MIS) at around 650%.

 

Other stocks, including Saudi Arabian Mining Co. (Maaden), Saudi Reinsurance Company (Saudi Re), Al-Babtain Power and Telecommunication Co., Al Rajhi Company for Cooperative Insurance’s (Al Rajhi Takaful), and Aldrees Petroleum and Transport Services Co., recorded gains ranging between 327% and 645%, while Al Rajhi Bank rose by 217%.

 

Top gainers since March 16, 2020 bottom

Company

March 16, 2020*

March 16, 2026

Change

Electrical Industries

0.52

15.43

+2,867%

Astra

13.50

148.00

+996%

Saudi Paper

5.86

53.90

+820%

GO Telecom

9.37

83.60

+792%

MIS

21.39

160.40

+650%

Maaden

9.34

69.55

+645%

Saudi Re

4.27

25.30

+492%

Al-Babtain

12.33

63.65

+416%

Al Rajhi Takaful

20.04

98.30

+391%

Aldrees

28.90

123.30

+327%

Bawan

10.60

41.74

+294%

Saudi Chemical

1.98

7.34

+271%

Abo Moati

11.98

42.92

+258%

NCLE

31.90

112.00

+251%

Care

37.95

125.90

+232%

Mobily

20.00

65.00

+225%

Dallah Healthcare

35.92

114.60

+219%

Al Rajhi Bank

31.88

101.20

+217%

Saudi Cable

53.15

165.10

+211%

Shams

4.92

14.55

+196%

Zoujaj

12.98

37.86

+192%

Tawuniya 

44.83

128.80

+187%

Al Jouf Cement

18.10

51.90

+187%

Bank Albilad

9.29

26.40

+184%

MESC

7.10

20.14

+184%

SASCO

18.75

52.45

+180%

Saudi Steel Pipe

14.00

37.72

+169%

GASCO

29.00

78.00

+169%

SENAAT

13.04

35.00

+168%

Bupa Arabia

64.82

172.80

+167%

*Capital changes are taken into account.

 

Saudi Energy Co. was among the least gainers, with an increase of just 1%, followed by Sinad Holding Co., rising 2%. National Industrialization Co.’s (Tasnee) and The Mediterranean and Gulf Cooperative Insurance and Reinsurance Co. (MEDGULF) rose 6% each.


Meanwhile, Almarai Co., Jarir , Aramco and Mobile Telecommunication Company Saudi Arabia (Zain KSA) recorded gains ranging between 7% and 23%, as shown in the table below:

 

Lowest Gainers since March 16, 2020 Low

Company

March 16, 2020*

March 16, 2026

Change

Saudi Energy

14.80

14.95

1%

Sinad Holding

7.84

7.96

2%

Tasnee

8.33

8.79

6%

MEDGULF

13.41

14.23

6%

Eastern Cement

22.42

23.94

7%

Almarai

40.05

42.86

7%

Red Sea

19.45

21.07

8%

Walaa

8.51

9.27

9%

Halwani

26.90

29.64

10%

ARTEX

8.81

9.73

10%

City Cement

11.00

12.21

11%

Jarir

12.44

13.99

12%

Naseej

19.53

22.06

13%

Malath

7.65

8.73

14%

GIG

20.30

23.45

16%

Saudi Aramco

22.98

27.06

18%

Maadaniyah

9.73

11.52

18%

Wataniya Insurance

10.19

12.15

19%

Zain Saudi

9.30

11.40

23%

AYYAN

8.47

10.42

23%

*Capital amendements are taken into account.

 

On the other hand, multiple stocks declined compared to the March 2020 bottom, led by Herfy Food Services Co. with a drop of 65%, followed by Allied Cooperative Insurance Group (ACIG) that dipped 63%. Saudi Fisheries Co. (SFICO) and United Cooperative Assurance Co. (UCA) came third falling 58% each.
Cenomi Retail, Southern Province Cement Co. (Southern Cement), and Advanced Petrochemical fell between 31% and 53%, as follows:

 

Decliners Since March 16, 2020 trough

Company

March 16, 2020*

March 16, 2026

Change

Herfy

41.00

14.50

(65%)

ACIG

16.72

6.19

(63%)

Saudi Fisheries

98.02

40.78

(58%)

UCA

7.00

2.95

(58%)

Gulf General

8.41

3.69

(56%)

Raydan

39.14

17.49

(55%)

Cenomi Retail

29.64

13.99

(53%)

SVCP

36.95

18.01

(51%)

Al Jouf Cement

10.04

4.91

(51%)

Southern Cement

48.70

24.00

(51%)

Takween

10.04

5.22

(48%)

Enaya

16.00

8.50

(47%)

Amana

9.72

5.52

(43%)

Salama

13.12

7.56

(42%)

Yanbu Cement

24.00

14.85

(38%)

Al Sagr Insurance

14.27

8.96

(37%)

TADCO

10.36

6.51

(37%)

Tihama

21.94

14.30

(35%)

Ash-Sharqiya

18.54

12.41

(33%)

Advanced

32.28

22.42

(31%)

*Capital amendements are taken into account.

 

REITs showed mixed performance since the March 2020 bottom. Four moved higher than the March 2020 bottom.
AlJazira REIT topped gainers with a rise of 17%, followed by Al Maather REIT and  Jadwa REIT Saudi Fund gaining 12% each.

 

On the other hand, Musharaka REIT plunged 50%, followed by Derayah REIT and Mulkia Gulf Real Estate REIT Fund that fell by 48% each, as follows:

 

REITs performance since March 16, 2020 bottom

Fund

March 16, 2020

March 16, 2026

Change

Aljazira REIT

9.60

11.25

17%

Al Maather REIT

7.91

8.88

12%

Jadwa REIT Saudi

10.02

11.22

12%

Bonyan REIT

8.70

9.43

8%

Al Rajhi REIT

8.35

8.10

(3%)

Taleem REIT

10.58

9.84

(7%)

SEDCO Capital REIT

8.50

7.12

(16%)

Jadwa REIT Al Haramain

6.18

4.93

(20%)

Al Aziziah REIT Fund

6.76

5.32

(21%)

AlAhli REIT (1)

9.00

6.51

(28%)

Alinma Retail REIT

6.90

4.69

(32%)

Riyad REIT

7.50

4.96

(34%)

MEFIC REIT

6.26

3.59

(43%)

Alkhabeer REIT

10.50

5.62

(46%)

Mulkia REIT

8.59

4.50

(48%)

Derayah REIT

9.85

5.09

(48%)

Musharaka REIT

8.38

4.20

(50%)

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