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Saudi stocks fall after prior gains

Saudi stocks fall after prior gains

The Saudi TASI stock market declined today by 0.2%, with the banking sector dropping 0.6%. The market index decreased from 11,054 to 11,016 points, approaching the 11,000-point level. The biggest losses were recorded by Al Rajhi Bank, which fell by 0.9%, and the National Commercial Bank, down by 1.7%. Despite the decline, trading value increased to approximately 3.9 billion riyals (+21%), and the volume of shares traded grew by 11%, reflecting heightened activity coupled with selling pressure. Overall performance mainly focused on the decline in banking stocks, but most sectors continued to show negative performance, with trading volume rising and selling forces dominating the market liquidations.

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