23 Hrs
Source:
الاقتصادية
Tassi's steady rise influences stocks
Reports indicate that the Saudi Stock Market "TASI" continued its gains for the fourth consecutive week, recording an increase of 0.3% to close at 10,858 points. Although momentum has slowed and a greater differentiation among stocks has appeared, with some companies declining and a decrease in liquidity, reflecting a more selective investor response to the second-quarter results. Despite declines in the energy and telecommunications sectors, sectors such as banking and basic materials managed to drive the market forward. There was noticeable variation in stock performance following the announcement of financial results, with the prices of 181 companies rising while 59 others declined. Market attention focused on actual and projected earnings, as well as the market’s reaction to profit growth and earnings exceeding expectations in some companies. Conversely, weak results from companies like "Saudi Energy" and "Dallah Health" put downward pressure on their prices.
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