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TASI falls 0.45% as three sectors drop
The TASI index declined by 0.45%, reaching 10,542.23 points, amid a calm and cautious atmosphere in the market due to ongoing geopolitical risks, despite oil prices exceeding $100 per barrel. Analysts attributed the decline to a natural corrective movement and profit-taking following the strong rebound in the previous session. They confirmed that the index remains on an upward trend in the short term, provided it stays above the support level of 10,500 points. Currently, attention is focused on the resistance level at 10,600 points; successfully surpassing this level would help maintain the upward movement toward 10,700 points. The market's performance is dependent on trading liquidity and the performance of leading sectors. Most sectors experienced declines, while six sectors saw gains, notably long-term goods and energy. Conversely, sectors such as media, basic materials, banking, and telecommunications declined, as investor risk appetite continues to wane amid ongoing caution.
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