‘Tasi’ peaks in two weeks amid rising trends
Saudi Arabian stocks rose during today's session, as the performance of most companies and sectors pushed the "TASI" index to its highest level in two weeks, closing up by 0.8% at 10,190 points. Aramco's stock led the gains with a 2% increase, and several major companies such as Alahlia, Acwa Power, SABIC, and Al Rajhi contributed to the upward momentum. Additionally, the Media and Entertainment sector topped the list of rising sectors. Although trading volume reached approximately 2.35 billion riyals, which is below recent average levels, the market showed improved participation, with the "TASI" index remaining roughly 6.7% below the 200-day moving average. This uptick came after a reduction in market valuation, with the forward price-to-earnings ratio at 13.9 times. Currently, efforts are focused on supporting company earnings and profit forecasts for 2027, as the performance of these results will determine the sustainability of the upward trend.
Notice: This Is an AI-Generated Summary
Comments (0)