Taasy climbs past 11,000 amid corporate pressure
Saudi Arabian stocks declined below the 11,000-point mark at the close of the session, amid pressure from most companies, especially Aramco, despite a 10% increase in trading value, reaching 4.9 billion riyals. The general index faced widespread selling pressure, with liquidity concentrated in the banking, energy, and basic materials sectors, all of which closed lower. Leading stocks continued to dominate trading volume, with a significant portion of liquidity spread across stocks with P/E ratios between 15 and 30. Data indicates weakness in the market's technical structure and limited momentum.
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