Saudi Market Logistics and Insurance Drop
The Saudi stock index (TASI) declined by 0.45% to reach 10,542.23 points, amid selling pressures targeted at the logistics, insurance, and petrochemicals sectors. Shares of Saudi Ground Services, Amanat Insurance, and Tameen Saudi Cooperative Insurance, along with tech and petrochemical companies such as Kayan Saudi, experienced declines ranging from 2.69% to 4.98%. These drops were driven by profit-taking, margin pressures, and rising global feedstock prices. Trading volumes amounted to tens of millions of riyals, as market pressures persisted, especially in the transportation, insurance, technology, and petrochemical sectors.
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