1 Day
Source:
الاقتصادية
Tasi stays at 10,500 points
Saudi stocks declined significantly today, with the Tadawul (TASI) index decreasing by 0.5% to close at 10,542 points. However, stock prices did not become fully more attractive due to the rise in government sukuk yields and SIBOR, along with slightly lowered profit expectations. Banks, led by Al Rajhi, contributed heavily to the market pressure, while the prices of some major stocks like Aramco and STC remained relatively high. It is important to note that the market is currently facing pressures as fixed-income yields have increased, making them more appealing compared to stocks. This is especially relevant as profit forecast revisions continue downward, highlighting the importance of the third-quarter earnings season in assessing the market and the extent to which companies can achieve profit growth that compensates for the rise in risk-free yields.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)