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Tasi recovers after decline
The Saudi main stock index "TASI" recorded a rise of 0.33%, closing at 10,318.14 points after four sessions of decline. The increase was supported by improved performance in the banking and retail sectors, especially following the announcement of strong financial results from companies like "Jarir." The level of 10,300 points remains an important support level. If support from the banking sector continues and liquidity improves, the index may aim to reach 10,400 points and potentially surpass it to reach 10,500 or 10,700 points. There is also potential to reach 11,300 points if geopolitical conditions improve. Overall, the market's performance remains dependent on sustained liquidity inflows and strong financial results from companies, despite warnings of potential pressures due to foreign institutional sales.
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