22 Hrs
Source:
الاقتصادية
Banks cause Tasi to end 3-month decline
The Saudi stocks session ended today's trading with a temporary rebound, following a seven-session streak of losses. The Tadawul index rose by 0.8% to close at 10,682 points, primarily supported by major blue-chip stocks such as Al Rajhi Bank, the National Commercial Bank (Al Ahli Saudi), and Aramco, which together contributed about 61% of the gain. Although the market experienced improved performance and about 150 companies saw gains while 90 others declined, trading liquidity remains weak, with a trading value of 2.5 billion riyals—down 30% from the previous session. Additionally, the three-month Saudi Interbank Offered Rate (SIBOR) fell to 5.07%, but this is still not sufficient as an indicator for a clear trend reversal. Meanwhile, the yield on Saudi 10-year government bonds remains at 5.88%, exerting pressure on stock valuations and suggesting a temporary stabilization after a prolonged decline.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)