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Banks suffer TASI losses amid liquidity dip
The Saudi stocks extended their losses for a fourth consecutive day, despite a stable market performance, as the Tadawul All Share Index (TASI) declined by 0.2% to close at 11,101 points, marking the lowest level since August 23. The decline was driven by pressure from the banking sector, which fell by 0.8%. Al-Rajhi Bank was the biggest loser, dropping by 0.7%, while gains in the energy, materials, and healthcare sectors helped limit the overall market declines. Additionally, trading value decreased by 49% following MSCI's periodic index adjustments. Nonetheless, the market has risen by 4.8% in August and 5.8% since the beginning of the year, with a price-to-earnings ratio of 16.5 times and a dividend yield of 3.5%.
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