TASI Faces Pressure During Trading

The Saudi Market Index "TASI" declined mid-session on Wednesday due to a broad wave of selling that affected most of the leading stocks, especially following financial results that came in below expectations for major companies like "SABIC," "AMAKEK," and "Al Nahdi." This caused the index to lose more than 150 points, approaching the level of 10,520 points. However, the performance of some companies such as "Bahri," "SAAL," and "Americana" exceeded expectations, supporting the rising stocks. Still, the performance of the major leading stocks, particularly the banks and oil companies, determined the overall downward trend, amid ongoing earnings season that continues to influence the market.