11 Hrs
Source:
الاقتصادية
Saudi stocks slow rebound despite liquidity return
The Saudi stock index "TASI" declined by 0.11% to close at 10,908 points, despite a 27% increase in trading value to 4.33 billion Riyals, returning to its highest levels in 7 weeks. Although liquidity has increased, the prices did not reflect this, as selling pressures continued near the 10,900-point level, a resistance point repeatedly tested without success. Currently, the market is experiencing a rotation of liquidity between stocks and sectors, with weak interaction between the volume of liquidity and price performance. This presents a challenge to sustaining the upward trend. The level of 10,960 points remains the nearest technical test, indicating the market's need to expand participation and convert liquidity into actual demand. The challenge also continues in breaking the resistance at 10,960 points independently of the second-quarter results, which have not yet significantly elevated market valuations.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)