Tasi begins week cautiously due to selective stock results

The Saudi stocks started the week with cautious movements, as the Tadawul All Share Index (TASI) maintained modest gains at 10,817 points, up slightly by 0.1%, after a temporary rise to 10,860 points before pulling back. The main support came from the energy and materials sectors, led by Aramco, Maaden, and SABIC, along with the banking sector. Conversely, pressures were concentrated in the media and entertainment, utilities, and technology sectors. Trading activity declined to 3.2 billion SAR, a 43% decrease from the previous session, with significant focus on the Al-Rajhi Bank stock, which accounted for more than a tenth of the liquidity, reflecting a selective market trend. Company earnings reports had a clear impact on stock movements, demonstrating that expectations play a major role in price movements, with most results aligning with forecasts or showing slight deviations. Despite the continued low trading volume, the fact that the TASI index remains above its 21-day moving average keeps the prospects for an upward move open.

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