19 Hrs
Source:
الاقتصادية
Tasi posts biggest daily drop in a month
The Saudi stock market continued its decline for the fourth consecutive week, despite most companies recording gains and an improvement in trading values. The index closed at 11,007 points, down by 0.3%. Market pressures were mainly driven by a decline in the banking sector, particularly Al Rajhi Bank, along with the energy and basic materials sectors. Conversely, real estate management and development companies led the gains, with their trading values increasing by 24% to 717.1 million riyals. Out of 17 companies in the sector, 15 saw rises, with notable increases in companies like Al Baik Omar, Dar Al Arkan, and Knowledge City. This comes after the Council of Ministers approved the executive regulations of the system allowing non-Saudis to own real estate, a decision that aims to boost the organization of the real estate market and enhance the attractiveness of property assets.
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