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Tadawul Index falls 2.5% across sectors
The Saudi Stock Market (TASI) experienced a sharp decline today, with the general index falling by 2.49%, losing 247.25 points to reach a level of 9,679.37 points. This decline occurred amid broad selling pressure across all sectors. Data showed that the Capital Goods sector was the most affected, dropping by 5.73%, followed by the Consumer Services sector at 3.99%, and the Insurance sector at 3.92%. The Banking sector, which has the most influence on the index, also declined by 2.03%. In stock performance, the Electric Industries stock led the declines with a 10% drop, while Bank Union's stock rose by 10%. Trading volume increased to 3.26 billion riyals through 231.22 million shares traded. Several companies' stocks hit historic low levels, such as Tadawul Group, which fell to its lowest price in 52 weeks at 106 riyals, along with others that reached new lows, reflecting a broad deterioration in the Saudi financial market.
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