Tadawul Equities Start November Lower; Saudi Arabia's Seasonally Adjusted Real GDP Rises in Q3

07:36 AM EST, 11/01/2026 (MT Newswires) -- Saudi equities started the first trading day of November lower as the market shrugged off the upbeat flash data in Saudi Arabia's latest economic release. At the close of Sunday trading, the Tadawul All Share Index closed 0.84% in the red. Out of 273 stocks, 220 traded lower, while 44 were higher. Flash data from the General Authority for Statistics showed that the kingdom's seasonally adjusted real GDP rose 1.3% in the third quarter. The quarterly growth was attributed to an increase in oil and non-oil activities. Year-over-year, the Saudi economy declined 3.8%. On the corporate front, Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, closed 0.08% lower as it finalized a deal to acquire a 49% stake in the Public Investment Fund-owned artificial intelligence company Humain. "The HUMAIN deal is very important to Aramco, building on the company's long track record of innovation and technology," Aramco Chief Executive Amin Nasser said. "This partnership with PIF strengthens Aramco's position as a global technology leader and AI powerhouse, while laying the foundation for localizing the AI industry and enabling faster, more integrated, and scalable deployment of AI systems. AI will therefore play a vital role in the future of business." In other news, a new wave of earnings reports flooded in as at least 12 Saudi Arabian companies published their third-quarter financial statements. Elm Co. (SASE:7203) and Alujain (SASE:2170) reported higher results for the quarter ended Sept. 30. Jabal Omar Development (SASE:4250), on the other hand, swung to an attributable loss in the third quarter, while Saudi Chemical Co. (SASE:2230) reported a decline in net profit and revenue. Alujain, Jabal Omar, and Saudi Chemical closed 9.91%, 7.33%, and 2.47% in the red. Elm shares were 9% in the green.