Tadawul Falls 0.46% at Midday
The Saudi "TASI" index declined by 0.46% midway through today's session, dropping to 10,328.72 points. This decrease was driven by selling pressure affecting 196 companies, compared to gains in 67 companies and stability in 10 others. The performance was impacted by collective selling across the basic materials, communications, banking, and energy sectors, with notable declines in media, transportation, and pharmaceuticals. Conversely, the retail, distribution, insurance, and software sectors supported the market's growth. National Steel's stock surged significantly by 9.92%, reaching its highest level in 52 weeks, while some stocks experienced sharp declines and recorded historic lows during the session. Trading remained active on major bank stocks such as Al-Rajhi. The session also featured important disclosures from companies like Al-Maamar and Emaar The City. The Capital Market Authority announced its approval for the offering of fund units, along with warnings issued for stocks that hit their lowest levels in a year.
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