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Tasi Faces Stock Pressure Ahead of 10800
The Saudi Stock Market Index "TASI" closed today at 10,680.61 points, down slightly by 0.01%. There was a mixed performance across sectors, with 195 companies rising in value and 63 companies declining. During the session, the index reached a high of 10,695.72 points and a low of 10,638.83 points, with total trading volume amounting to 3.20 billion riyals across 167.31 million shares. The session saw gains in the Transportation (+1.95%), Utilities (+1.59%), and Real Estate Development and Management (+1.17%) sectors, while the Banking (-0.79%), Energy (-0.18%), and Telecommunications (-0.16%) sectors declined. The top-performing stock was Ground Services, which rose by approximately 10%, while the biggest losers included PetroRabigh (-3.96%) and Pharmaceuticals (-3.43%). It is also worth noting that the market witnessed regulatory announcements, including approvals for capital increases and the signing of contracts for healthcare projects. Experts noted that the index is currently holding at a key support level between 10,650 and 10,700 points, with possibilities of resuming higher levels or continued pressure depending on liquidity movements and geopolitical developments.
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