TASI opens lower amid sector pressures
The Saudi Stock Market Index "TASI" declined by 0.16% at the start of Wednesday's trading session, losing 17.79 points to reach 11,213.82 points. The decreases were mainly concentrated in the Utilities and Energy sectors, with the Utilities sector dropping by 0.92% influenced by a decline in the Acwa Power share, and the Energy sector falling by 0.56% due to declines in Saudi Aramco and Petro Rabigh shares. Conversely, the Consumer Services sector rose by 0.73%, with Alinma Bank's share increasing by 9.94%, making it the top gainer. Additionally, Al Maalem for Information Systems saw a 2.18% rise following the announcement of developments related to a major artificial intelligence project. The highest activity in terms of liquidity was recorded by Al Rajhi Bank, with trades totaling 92.24 million Saudi riyals, despite a slight decrease of 0.36%. Trading involved shares of multiple companies, as some announced financial results and new projects. This occurred amid structural improvements in the derivatives market and efforts to enhance the Kingdom’s financial market development.
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