Saudi Market Loses Ground on ROUH and Dar Al Arkan
The Saudi stock market experienced a decline in the performance of some leading and mid-sized stocks, particularly in the real estate, petrochemical industries, retail, and pharmaceuticals sectors. The Tadawul (TASI) index rose slightly by 0.27% to reach 10,804.11 points. Among the affected stocks, Roam's share dropped significantly to 75.5 SAR, and Dar Al Arkan's shares plummeted by 3.27% to 19.2 SAR, due to selling pressure resulting from resistance levels that were not previously broken. Additionally, Jummum Pharma and the Fourth Mills saw declines of 2.86% and 2.70%, respectively, while Jarir’s stock in the retail sector decreased by 2.44%. This decline was attributed to investor concerns about slowing sales and pre-earnings investment adjustments. In the basic materials sector, SABIC Agricultural Nutrients recorded a 2% decrease, amid ongoing fluctuations in global petrochemical product prices, while Amak’s stock also declined by 2.07%.
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