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Tadawul Ends Lower Despite Sector Gains
The Saudi stock market index, "TASI," ended today's session with a decline of 0.74%, closing at 10,283.96 points. Despite the rise in the pharmaceuticals and energy sectors for the first time in a while, market pressures continue due to geopolitical developments, decreased liquidity, and increased foreign sales. This led to breaching the main support level at 10,500 points and trading volumes of approximately 3.49 billion riyals. The index’s performance is expected to improve if geopolitical tensions ease and international markets stabilize, with attention focusing on increasing liquidity and boosting interest from sovereign funds, especially as the energy sector remains resilient supported by rising oil prices.
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