Saudi stocks steady above 11,000
The country's real GDP data has declined, while the Saudi stock market experienced a limited increase, mainly supported by higher oil prices and Aramco. Despite a decrease in oil production, rising prices led to nominal revenue growth, which explains why the market did not decline significantly. The Tadawul index rose slightly by 0.1% to 11,036 points, with weak liquidity and low trading volume, indicating that the market is in a phase of consolidation rather than the beginning of a broad upward wave. The contraction in GDP was not directly reflected in the market due to the mixed effects of decreased production and increased prices, while the major stocks remain stable at their current levels.
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