23 Hrs
Source:
الاقتصادية
Saudi stocks stay below 10960 points
The Saudi equities failed to achieve a sustained breakthrough above the 10,960-point level. The main index, Tadawul, tested resistance near this level but was unable to stay above it, closing the session at 10,912 points—a modest increase of 3 points, despite reaching 10,966 points during the session. This test came amid a 14% rise in liquidity, reaching 4.9 billion riyals. The resistance had historically represented an important point near the 200-day moving average, but the market was unable to maintain its highest levels. Weakness in internal momentum became apparent, with most stocks declining—144 companies fell compared to 95 that rose. The results indicate that the 10,960-point level has not yet transformed into a strong control level, and the market needs additional demand and a higher absorption level of selling pressure to stabilize above this threshold, especially given the continued weak demand for blue-chip stocks and declining momentum across the majority of shares.
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