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How TASI Cut Losses Amid Geopolitical Tensions

How TASI Cut Losses Amid Geopolitical Tensions

The Saudi Main Market Index "TASI" closed on Sunday down by 0.15%, losing 15.54 points to end at 10,360.74 points, despite intense volatility and an initial decline of over 100 points due to regional geopolitical risks. Defensive liquidity managed to reduce losses and bring the index back near its daily high, supported by a rebound in the banking and basic materials sectors, as well as stable oil prices above strong levels, reflecting the market’s ability to absorb shocks and execute a temporary correction following previous rallies. The market recorded gains in leading stocks such as Al-Rajhi Bank, Bahri (Arabian Marine Services), and National Steel, while stocks in the media and transportation sectors declined. Trading volume reached 2.69 billion riyals, with liquidity decreasing amid political tensions and military risks. Market indicators remain supporting important lows, with investors awaiting upcoming earnings reports and dividend announcements for the next phase.

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