24 Hrs
Source:
الاقتصادية
Taasi declines as earnings season wraps up
The Saudi stock market index, TASI, declined at the end of the earnings season after a rise in profits did not significantly reflect in the price movements. The index remained below its weekly highs, slipping slightly by 0.1%. Most stocks and sectors also declined, despite stability in the banking and energy sectors. Currently, the market is showing selective performance among companies, with investors focusing on the quality and sustainability of profit growth rather than mere temporary or unsustainable increases in numbers. Additionally, the decline in liquidity and the lack of momentum indicate that the market currently lacks clear leadership. It faces resistance around 10,974 points, with investors remaining cautious in their expectations for future performance.
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