Saudi Arabia's Tadawul All Share Index closed Sunday at 10,369.61, down 0.06% in a session that saw the benchmark swing between an intraday low of 10,238.60 and a high of 10,393.73 before settling near the top of that range. The marginal decline masks a wider divergence: market capitalization rose to 9.224 trillion riyals from 9.123 trillion a week earlier even as the index posted its fifth consecutive weekly loss, slipping 0.16% to 10,376.28 for the week ended October 8.
The split personality of the market traces directly to Saudi Aramco. The oil giant climbed 1.82% to 25.74 riyals, contributing 1.35 billion riyals in weekly liquidity and lifting the energy sector 1.66%. That heavyweight support cushioned the index while selling pressure spread across banks, media, and telecoms. Banks fell 1.71% for the week, media and entertainment dropped 1.52%, and telecoms slipped 0.33%.
Earnings disappointment amplified the rotation. On October 8, the index tumbled 1.57% to 10,376.28 as Al Rajhi Bank slid 2% to 62.30 riyals and Saudi National Bank dropped 3% to 37.86 riyals. United Electronics (eXtra) and Taqseel each tumbled 8% after quarterly results, while a raft of mid-caps — East Pipes, Saudi Paper, Red Sea, Budget Saudi, and others — fell 3% to 6%. Turnover that day reached 4.4 billion riyals with 249 decliners against just 15 advancers, confirming the breadth of the pullback.