Saudi stocks fall 0.4% to 11025

The Saudi Market "TASI" declined by 0.4% to reach 11,025 points, affected by a decrease in 188 companies compared to an increase in 70. Notably, the banking sector saw a significant drop, losing 0.5%, led by "Al Rajhi," which declined by 0.5%. The decline occurred despite a 15% rise in trading value to 3.4 billion Riyals, and an increase in the number of transactions by 27%. However, the average transaction value fell by about 9%. The market also experienced broad pressure from the basic materials, telecommunications, and banking services sectors, with the pressure mainly on major stocks. The market remains above its 200-day moving average and is showing signs of sideways fluctuation, awaiting improved corporate earnings forecasts to trigger a new upward wave.

Size: 120%Text Size

Notice: This Is an AI-Generated Summary

Display The Full Article