Tadawul drops 1.44% amid banking sector pressures
The Saudi Stock Market (TASI) declined by 1.44%, equivalent to 153.28 points, reaching 10,524.83 points, amid widespread selling pressure that involved 225 companies. Total trading volume amounted to 3,259.74 million riyals, with 207.72 million shares traded. The banking sector was the most affected, decreasing by 2.27%, followed by the pharmaceuticals sector at 1.90%, and the utilities sector at 1.68%. On the other hand, the Applications and Tech Services sector increased by 1.53%, supported by the shares of "Solutions" and "MIS," and the Consumer Services sector rose by 0.43%. Tabbuk Agricultural's stock surged by 9.94% after the Capital Market Authority approved the company's capital reduction. Americana's stock also rose by 5.74%, and Solutions by 5.06%. Conversely, the most declining stock was "Intaj," down by 5.57%, followed by "Ljain" with a 5.52% decrease, and "PetroRabigh" down by 5.13%. In terms of liquidity, Al Rajhi Bank was the most traded, with a value of 393.95 million riyals, while Americana had the highest volume with 72.15 million shares traded. Additionally, some companies, including SABIC, announced their financial results, and regulatory decisions were issued regarding the trading of certain stocks, with some stocks reaching their lowest levels in 52 weeks.
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