TASI drops for fourth session despite Aramco Rise

The Saudi stocks declined for three consecutive sessions as the market shifted toward a broader reassessment due to rising capital costs, without a significant improvement in corporate earnings expectations. The "TASI" index closed at 10,393 points, down 0.5%, with 14 sectors declining. The biggest pressures came from the "Al-Ahli" and "Al-Rajhi" stocks. Despite the trading value increasing to 4.7 billion riyals and greater liquidity, this was not reflected in enough buying demand to push prices higher. The returns remain attractive compared to government investments, and with the price-to-earnings ratio dropping to around 15.5 times, the gap between market yield and government yield has narrowed to approximately one percentage point.

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