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TASI index stabilizes with key support
The article focused on the performance of the Saudi stock market "TASI" today, where the index closed with a slight decline of 0.25%, equivalent to 26.06 points, reaching 10,479.78 points. However, it managed to reduce its losses before the end of the session. The index began the session, affected by regional tensions and military operations, with a significant drop of up to 0.7%. Nonetheless, it regained some of its losses as investors entered the market to buy. Analysis indicated that the market was able to absorb geopolitical shocks, supported by continued oil flows along the East-West pipeline. This was further reinforced by the private non-oil Purchasing Managers’ Index (PMI) rising to 55.3 in September, reflecting an improvement in economic activity and profits, especially in banking, retail, and services sectors. Market analysts' expectations suggest that the main support level for the index is around 10,200 points, with resistance at 10,850 points. The stability of the market depends on liquidity and the economic performance in the third quarter.
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