Tasi drops near support level
The Saudi Stock Market Index "TASI" decreased by 0.96%, closing at 10,579.18 points, despite rising oil prices. This reflects ongoing selling pressures and weak risk appetite among investors. The market decline came amid a deteriorating performance of most stocks, with 208 companies experiencing declines, while 52 companies rose and 12 remained stable. Despite the increase in oil prices, the "Aramco" share declined due to factors including the market's assessment of production performance and profitability, not just oil prices. Expectations are for liquidity to rebound at the beginning of October after the current month's end, provided that geopolitical issues stabilize and market conditions improve.
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