Taasi's Longest Rise in 23 Months
The Saudi stocks extended their winning streak to seven sessions, the longest rally since September 2024. However, increasing selling pressure led to a reduction in gains and a decline in price momentum. The TASI index closed up by 0.3% at 11,260 points, after reaching a high of 11,286 points before pulling back. Despite the slowdown, the market continued to perform strongly, with 165 companies advancing while 90 declined. Sectors like banking and communications continued to support the index, whereas the energy sector dipped, led by Saudi Aramco, which fell by 0.7%. Trading value decreased to 5.71 billion riyals, while the volume of shares traded rose to 307 million shares. However, market liquidity has not yet reached a level sufficient to sustain the upward wave, indicating that further gains will require greater buying strength or new catalysts to push prices higher.
تنويه: هذا ملخص تم إنشاؤه بواسطة الذكاء الاصطناعي
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