Saudi market looks for new drivers
According to monitoring of the Saudi Stock Market, the TASI index continued its decline during Thursday's session, decreasing by 0.32%, recording a loss of 32.29 points to close at 10,106.54 points, approaching an important psychological and technical support level at 10,000 points. Experts explained that the impact of geopolitical tensions and weak liquidity continued to pressure the market, despite attempts by some sectors such as transportation, media, and pharmaceuticals to stabilize. Meanwhile, the banking sector faced strong selling pressures from foreign investors, especially on the Al Rajhi Bank stock. Currently, the market is facing challenges in identifying a clear bottom, with investors awaiting third-quarter company earnings and improved liquidity. The prevailing cautious sentiment remains ahead of geopolitical developments and their potential impact on market performance.
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