TASI advances for third day to 10,954 points
Saudi stocks rose for the third consecutive time, with the TASI index increasing by 0.3% to reach 10,954 points. Trading value also grew by 37%, totaling 5.1 billion riyals. Despite this positive performance, the index remains near the 200-day moving average and has not significantly broken above the 10,900-point level, with no strong incentives pushing the market to higher highs. The price-to-earnings ratio is estimated at 16.2 times, and the dividend yield stands at 3.5%, indicating that the market is at an acceptable level but not sufficiently attractive to sustain growth without new catalysts. Liquidity remains relatively high, but has not exceeded its average since the beginning of the year by more than 2%, reflecting that trading activity has yet to translate into robust investment flows capable of driving a larger upward wave. Nevertheless, the TASI is still 7% below its yearly peak but maintains profits approximately 7.5% above its bottom, suggesting a middle ground between recovery and economic challenges that require additional incentives to push prices higher.
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