15 Hrs
Source:
الاقتصادية
Saudi stocks gain for second day
The Saudi stocks rose for the second consecutive session, supported primarily by the banking sector, which contributed more than half of the index's gains. The rise in shares of major banks such as Al Rajhi and Al Ahli helped boost the market. However, trading volumes in the leading stocks declined significantly by up to 84%, indicating that the rally was largely driven by prices without a strong response from liquidity. Greater activity was observed in small and medium-sized shares. Currently, valuations remain at a P/E ratio of 16.4 and a dividend yield of 3.5%, with the market still sensitive to short-term changes. This underscores the need for improvements in fundamental factors to push prices higher.
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