Tasi gains for second day amid firm company support

The Saudi financial market index "TASI" continued its rebound for the second consecutive session, supported by most companies, especially leading ones such as "Aquer," "Sabic," and the banks. Despite the trading value declining to approximately 5 billion Riyals, down 9%, which is below the daily average, the index rose by 0.5% to close at 10,857 points. However, technical indicators still lean towards a bearish outlook, as the index remains below its 200-day simple moving average by about 1.6%. The companies supporting the index have changed, with increased support from higher-weighted firms; 165 companies advanced while 77 declined, indicating a balanced market liquidity. Additionally, the Saudi market attracted direct foreign investments worth 26.6 billion Riyals in the first quarter.

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