Ta7e dips as earnings season ends
The Saudi Stock Market "TASI" session concluded with a slight decline to 10,833 points, down 0.1%, despite the completion of the companies' financial results season. The market was hesitant, as the index did not surpass its highest levels during the week, with 148 companies declining compared to 85 companies rising. Stock sectors are experiencing hybrid pressures, with relative stability in the banking and energy sectors. Currently, the market is focusing on the quality of profits, since broad growth based on temporary factors or a low base does not guarantee sustainable improvements in future outlooks or rising prices. This explains the selective movements in stocks after the results season. Additionally, weak liquidity, the proximity of the index to technical resistance levels, and decreased trading value limit the chances of breaking through major resistance points. The market also lacks clear leadership to drive an upward trend. Overall, the market is not suffering from a sharp sell-off but is lacking the momentum needed to achieve new gains, with varied company performances after earnings and no strong evidence of a widespread shift in market expectations.
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