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Tadawul Index Falls 0.26 Percent
The Saudi market index "TASI" declined by 0.26%, closing at 10,749.51 points, amidst mixed performance across sectors and concerns over escalating geopolitical tensions. Traders remain cautious, with 219 companies experiencing drops compared to 45 that rose. The pharmaceuticals, communications, and banking sectors saw declines of up to 2.6%, while energy and materials sectors recorded gains close to 1.25% and 0.79%, respectively. On the individual stock level, "Sinomi Centers" posted the largest increase of 5.78%, while "Mutakammila" and "Laden" experienced the biggest declines, down 9.01% and 7.78%, respectively. Technical analysts expect a key support level at 10,750 points to potentially trigger a rebound, whereas breaking below this could lead to further declines. The market’s performance remains dependent on capital flows and oil price movements, amid fears of escalating tensions in the region.
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