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الاقتصادية
TASI drops to 5-month low due to internal factors
Saudi Arabian stocks declined significantly today, Wednesday, reaching their lowest level in five months due to broad pressures from the banking sector, along with disappointing financial results from some major companies such as SABIC. As a result, the Tadawul All Share Index (TASI) dropped by 1.26%, closing at 10,544 points. Most companies and sectors in the market also declined, despite increased trading activity, with liquidity exceeding 5.2 billion riyals. The pressure was particularly focused on banking stocks, especially Al-Ahli and Al-Riyad, which fell by more than 4-5% due to technical adjustments related to dividend distributions. The cost of liquidity also rose as the Saibor rate increased to 5.09% ahead of the U.S. Federal Reserve decision, adding to the prevailing uncertainty. SABIC's quarterly results and outlook had a significant impact, as the company reported a quarterly loss, further pressuring the market, despite some other firms performing better and exceeding expectations.
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