Tadawul Falls Below 10700 Amid Broad Decline
The Saudi stock market experienced a significant decline on Tuesday, as widespread selling pressured the Tadawul Index to close at 10,678 points, down by 91 points (0.9%), marking its biggest drop in a month. The market's decline coincided with a 13.7% decrease in liquidity, which fell to 3.84 billion riyals, along with a 7.4% drop in trading volume to 195.9 million shares, despite a 3% increase in the number of transactions to approximately 432,000. The downturn was concentrated across 17 of the 22 sectors, with only five sectors registering gains, most notably the Healthcare sector. Many leading stocks were adversely affected, with 210 companies declining versus 52 that rose. This drop in stocks erased previous gains, amid continued selling pressure driven by declining financial results and market conditions, leading to ongoing tension in the overall market performance.
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