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TASI Falls 0.14% on Sector Pressures
The Saudi market index (TASI) declined by 0.14% at the close of the last session of September, breaking below the 10,500-point level due to pressure on leading stocks and weakened momentum. This occurred amid a near $97 per barrel decline in oil prices, caused by increased supply flows, which reduced geopolitical risks and negatively impacted the energy sector. Experts clarified that the 10,400-point level remains a critical support preventing further market deterioration. Despite this, performance was limited due to low buying liquidity and cautious traders, although sectors such as health and home products saw gains supported by certain stocks. The market's future trajectory is expected to be influenced by the geopolitical situation, especially the meetings between leaders and American officials. A diplomatic easing could potentially push the market back to previous levels and reach 11,300 points.
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