Saudi stocks reach historic lows
The Saudi Financial Market (Tadawul) experienced sharp declines, with 27 stocks reaching their lowest levels in history during the trading session. Leading the declines was the "Taqat" company, which dropped by 11.91% to a share price of 5.99 SAR, its lowest ever, with a trading volume of 38,000 shares and an estimated market value of approximately 82 million SAR. Additionally, the "Tasyil" stock declined by 7.04% to 24.56 SAR. Other stocks such as "Manoola" and "Toby" also recorded significant declines, with the declines concentrated primarily among mid- and small-cap stocks, especially in the cement, enablement, and pharmaceutical sectors. The number of stocks trading at lower price levels increased, reflecting a noticeable deterioration in market performance amid intense selling pressure driven by unfavorable market conditions.
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