TASI Drops 1.67% to 10,366 Points as 15 Stocks Hit Historic Lows

The Saudi stock market index "TASI" closed down 1.67 percent at 10,366.59 points, after touching a high of 10,545.65 points and a low of 10,361.49 points, within a range exceeding 184 points during the session. According to "Business Upturn", the close came very near the day's low, indicating weak buying interest right up to the final bell.

Argaam reported in its coverage of the October 8 session that the index closed down 1.6 percent at 10,376 points, with a trading value of 4.4 billion riyals. A slight discrepancy appears between the two closing figures published by the two sources, a difference that does not alter the overall picture of a bearish session but is worth noting when comparing reports.

Argaam noted that 15 Saudi stocks and two REIT funds fell to historic lows, indicating that the decline was broad-based and not limited to a small number of large-cap stocks. The drop of this number of stocks to record levels indicates that selling pressure extended across multiple sectors within the market.

Neither source identified a single local headline explaining the scale of the drop, leaving the explanation tied to the general context of regional markets during the session. Weak demand near the close indicates that traders preferred to reduce positions rather than buy at lower prices before the weekend.

What do these terms mean?

TASI Index: The main index of the Saudi Financial Market, which measures the performance of listed stocks and serves as a reference for market direction.

Traded Value: The total value of shares traded during the session, used to measure liquidity levels and trader activity.

REIT Funds: Real Estate Investment Trusts listed on the stock exchange like shares, which own real estate assets and distribute part of their income to investors.

Historic Low: The lowest price reached by a stock or index since trading began, considered by traders as a sign of strong selling pressure.