12 Hrs
Source:
الاقتصادية
Saudi market faces tough week
The Saudi stock market experienced continued weak momentum in the past week, as the Tadawul Index failed to stabilize above the 10,960-point level despite rising for the third consecutive week, marking the longest upward streak in four months. Most of the gains were achieved in a single session at the start of the week (Sunday), followed by a shift towards limited gains, with resistance at the 10,960-point level remaining unbroken and not clearly leveraged. Additionally, a 6% decrease in trading volume to 21.4 billion riyals raises doubts about the strength of the rally, as liquidity declined despite the rising index, suggesting that demand was not strong enough to support a sustainable upward wave. Moreover, there was no fundamental change in key factors such as earnings expectations, which indicates that the market needs to demonstrate stronger performance to confirm a more sustainable bullish trend.
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