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Under pressure from banking sector, TASI declines 65 points to 12,117
Published in The Saudi Gazette on 28 - 08 - 2024

RIYADH — The Saudi main stock index Tadawul All Share Index (TASI) fell by 65.05 points (0.53 percent) to 12,117.15 points at the end of the session on Wednesday, with liquidity reaching SR6.8 billion ($1.8 billion).
The drop in TASI is mainly attributed to the pressure from the banking sector, which fell by about 1.4 percent. The shares of Al-Rajhi Bank, the second largest company in terms of weight in the index, fell by 1.48 percent to SR86.70, amid active trading of SR319.5 million. The shares of Al-Ahli (SNB) and Al-Awwal Bank also fell by 2.36 and 0.86 percent, to SR35.20 and SR34.75 respectively.
In the energy sector, the shares of Saudi Aramco, the heavyweight in the index, fell by 0.36 percent to SR27.75, with trading of 15.5 million shares. In contrast, the Red Sea Company stock topped the most profitable companies with a 9.9 percent increase, to SR45.50, the highest level since January 2022. Amiantit and Al-Aqaria also recorded gains of 6.7 and 5.5 percent, at SR30.25 and SR23.80 respectively.
The Saudi Parallel Stock Index (Nomu) fell by 169.70 points to close at 26,221.39 points, with trades worth SR65 million while the volume of traded shares reached 3 million.


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