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Experts: TASI dips below 10,000
The Saudi Stock Market Index "TASI" closed today, Tuesday, down by 1.69%, losing about 172 points, ending at 9,952 points. This decline was influenced by a broad selling wave that affected the majority of stocks and sectors. The decline is attributed to regional tensions and political uncertainty, along with investor anticipation of the third-quarter 2026 earnings results, which increased caution among investors and pushed the market to break through key support levels, falling below the 10,000-point threshold. If pressures persist, a test of the 9,500 level is expected. Trading saw a decline in prices of 253 companies, while 14 companies saw gains, and 4 remained stable out of the 271 companies traded. The total trading value was approximately 2.5 billion riyals. Analysts indicate that the market's continued decline depends on its ability to establish a new price bottom, improve corporate performance, and increase institutional liquidity—especially with upcoming company results that could influence the market trend and support a potential rebound if the results are positive.
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