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TASI dips 0.45% amid banking and food decline
The Saudi Stock Market Index (TASI) declined by 0.45%, reaching 10,632.75 points midday during the trading session, influenced by selling pressures in the banking and food production sectors. The media, entertainment, retail services, and oil sectors experienced limited gains, while stocks such as Rihan and Tabuk Agricultural saw notable increases. Conversely, companies like Arabian Pipes and Arab Petroleum showed significant declines following their recent announcements, especially after Aramco's statement and the recording of historic lows in some other stocks. Some stocks, such as the pharmaceutical and Petro Rabigh, rose, although trading remained weak and at low levels. This was amid companies announcing dividend distributions or signing contracts. Overall, the market's activity was limited in liquidity, mainly due to the declining performance of some leading stocks.
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