Banks face continued TASI declines amid liquidity drop after MSCI inflows

Saudi stocks declined for the fourth consecutive week, with the TASI index closing at 11,101 points — the lowest level since August 23. However, the decline was concentrated in the performance of a limited number of stocks and sectors, most notably banks, which fell by 0.8% led by Al Rajhi Bank, which decreased by 0.7%. Despite a 49% drop in liquidity, this coincided with adjustments to MSCI indices, explaining the decline in trading activity. Meanwhile, the market has gained 4.8% over the past 30 days and 5.8% since the beginning of the year, with a price-to-earnings ratio of 16.5 times and a dividend yield of 3.5%. Fundamental factors still do not favor sustainable growth, despite some limited upward movements.

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