72 Days
Source:
الاقتصادية
Saudis shift stock liquidity outside top sectors
The Saudi stock market ended last week with a second consecutive weekly decline, as the TASI index dropped by 1% to close at 10,827 points, marking its lowest weekly close in three months. The decline was driven by widespread sell-offs across most companies and a drop in more than half of the stocks, despite increased liquidity reaching approximately 21.75 billion riyals, an 11% rise. This decline occurred despite heightened trading activity, with declining stocks accounting for 61% of total trading. The pressure was mainly concentrated in the banking, commodities, and insurance sectors, while some small and medium sectors saw relative gains, such as durable goods and food production. The market is approaching an important resistance level near the 200-day moving average.
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