Tadawul aims for higher returns

The Saudi Stock Market "TASI" declined by 0.9%, closing at 10,781 points, after experiencing a modest rise in the previous session. The decline was not due to a drop in company profits, which remained stable, but rather resulted from increasing yields in the bond and sukuk markets. This led to higher capital costs, making stocks require higher returns to maintain their appeal. These factors caused the expected market price-to-earnings ratio to decrease to around 14.3 times, and the dividend yield to rise to 6.89%, reducing the attractiveness of stocks despite their lowered prices. The market conditions suggest that the "TASI" index would need to fall to 10,400 points or below to become attractive to buyers, assuming that company profits remain steady and bond yields do not continue to rise. Monitoring yields' movements following the Federal Reserve's decision remains essential.

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