Saudi stocks decline amid MSCI focus
The Saudi stocks concluded the last session of the week with a limited decline, with the TASI index closing at 10,824 points, down by 0.2%. Most stocks and sectors declined, with only 8 out of 22 sectors advancing while 13 sectors declined, reflecting broader market pressure beyond just the leading stocks. The prices of some major companies, such as Aramco, Maaden, and SABIC, dropped, accompanied by a noticeable decrease in liquidity, as trading values fell to 4.45 billion riyals, below the previous session. Additionally, stocks excluded from the MSCI index experienced price declines while trading values increased, particularly for Bank Aljazira, whose trading volume rose from 31 million riyals to 203 million riyals amid repositioning pressures following MSCI's review. Overall, the market shows signs of rising selling pressure and weak buying appetite, with declining liquidity and a broader distribution of trading activity, highlighting the market's weak performance during yesterday's session.
Notice: This Is an AI-Generated Summary
Comments (0)