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Banks Drive TASI to End Two-Week Consecutive Decline

Banks Drive TASI to End Two-Week Consecutive Decline

The Saudi stocks closed slightly higher by 0.2% at the level of 10,720 points, after a two-week decline. The main support came from the banking sector, which rose by 0.5% and saw all its stocks increase. This rise occurred despite weak market breadth, as declining stocks outnumbered advancing ones, and the support was focused on larger-cap companies without a broad rally. Liquidity was concentrated in banking stocks, which accounted for 19% of the total market, while trading value decreased to 3.4 billion riyals—a 14% decline. Overall, liquidity remained weak despite a decrease in the number of declining stocks compared to rising ones. The healthcare sector recorded the highest gain of 0.7%, while the pharmaceuticals sector experienced a decline of 1.6%.

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