17 Hrs
Source:
الاقتصادية
Tasi exceeds 11,000 points with strong company support
The Saudi stock market experienced a strong rally, with the Tadawul Index surpassing the 11,000-point level for the first time in weeks. This rise was supported by a broad-based recovery across all sectors and most companies. The index increased by 124 points, or 1.13%, reaching 11,079 points, marking its fourth consecutive session of growth. All sectors and a large number of companies, especially leading ones like the National Commercial Bank and Ma'aden, contributed to this upward movement. However, trading liquidity did not rise at the same pace as the price gains, indicating that the move was primarily driven by re-pricing within the usual liquidity levels. The market still needs to maintain levels above 10,960 points and observe the sustainability of this performance to support an upward trend. Market valuations are approaching their levels without entering a phase of high optimism. The next critical test will be whether the Tadawul Index can hold above 10,960 points and generate greater liquidity to establish a more sustainable upward trajectory.
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