TASI Drops 47.67 Points to 10,392.97 Points, Lowest Level Since January

The Saudi stock market index "TASI" closed its session down by 47.67 points to settle at 10,392.97 points, its lowest level since January, amid a decline in most listed stocks on the market. This level deepens the index's cumulative losses over the past period, after starting the year at higher levels, at a time when investors are awaiting new signals on the economy's path.

Trading value reached around 4.6 billion riyals across 219 million shares, with shares of 109 companies rising against a decline in 149 companies. This difference between the number of gaining and losing companies indicates that selling pressure was broader than demand, and that gains were limited to a small group of stocks that was insufficient to stabilize the index in positive territory, with price change percentages ranging between 7.75% and 9.49%.

Shares of "Al Ahli", "Al Rajhi", "Saudi Aramco", "stc", and "SABIC Agri-Nutrients" topped the list of most active companies by trading value, which are heavyweights whose movements directly impact the performance of the main index and determine a large part of its daily direction.

In the parallel market, the "Nomu" index closed at 21,072.88 points, down by 234.45 points, with trading value reaching 18 million riyals. This decline reflects caution among traders in the Saudi market as they await corporate earnings and macroeconomic data in the coming weeks, and whether oil prices and corporate profits will provide support to bring the index back to its previous levels.

What do these terms mean?

TASI: The main index of the Saudi stock market, comprising companies listed on the main market. Nomu Index: The parallel market designated for smaller companies. Trading value: The total value of shares traded during the session. Blue-chip stocks: Shares of major companies whose performance drives the index movement.