TASI Closes 0.15% Lower at 10,360 Points Following Riyadh Attack
TASI closed 0.15% lower at 10,360.74 points, and most Gulf markets declined following the Riyadh airport attack, with 23 stocks and 3 REITs hitting all-time lows.
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The Saudi stock market index "TASI" closed 0.15% lower at 10,360.74 points, as traders absorbed the reality of the attack on King Khalid International Airport in Riyadh, according to Arab News.
Most Gulf markets were affected by the same event, with Reuters reporting that most Gulf stocks ended the session lower following the airport attack, indicating that the impact extended across the region, not just Riyadh.
The Argaam platform reported that 23 stocks and 3 REITs hit all-time lows during the session, signaling that tension led investors to reduce their positions in smaller stocks.
The daily decline was relatively modest at 0.15%, but the extension of the drop to historical lows for several stocks demonstrates that the impact went beyond the index's overall movement into internal market details.
What Do These Terms Mean?
TASI Index: The main index of the Saudi Exchange (Tadawul), which measures the performance of listed companies' shares through a market-cap weighted average.
REIT Fund: A Real Estate Investment Trust traded on the stock exchange like a stock, which distributes rental income from its properties to unitholders.
All-Time Low: The lowest price reached by a stock or fund since trading began, used to measure the intensity of selling pressure on a specific instrument.
Session Close: The final price at which an index or stock finishes the day's trading, used as a benchmark to compare performance against previous days.
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