Tamasi recovers after decline, may reach 10,400
The Saudi Stock Market Index "TASI" increased by 0.33%, closing at 10,318.14 points after four consecutive sessions of decline. This rise was supported by strong performances in the banking and retail sectors, as well as in the luxury goods distribution sector. The share price of "GSSD" surged following the announcement of its financial results for the first nine months of 2026. Trading volume reached 3.25 billion riyals across 162.28 million shares, with 104 companies seeing their stocks rise compared to 146 companies that declined. The index managed to regain the 10,300-point level, which is considered a key support area, enhancing the prospects of moving back up to 10,400 points. However, breaking below 10,200 could reintroduce selling pressure. The performance of the banking sector played a major role in supporting the market, whereas the media, entertainment, and technology sectors experienced declines. The "Asmak" stock registered the highest gain at 9.99%, while "Tanmia" saw the largest drop of 6.55%. The market's rebound is linked to solid corporate earnings from multiple companies and improved liquidity, though caution remains due to foreign institutional sales that could influence future trends.
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