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Saudi stocks decline amid continued selling pressures
Published in The Saudi Gazette on 16 - 09 - 2024

RIYADH — The Saudi Stock Market main index Tadawul All Share Index (TASI) closed down Monday's session 33 points (0.3 percent) to reach 11,867 points, amid selling pressures from most stocks, led by the banking sector, while trading values recorded an increase of 31 percent.
The market was unable to stabilize at 11,900 points, which constitutes a resistance level despite reaching it during the session, which keeps the chances of selling pressures, especially with the weak performance. The market was unable to compensate for the losses it incurred over three sessions since last Wednesday.
Trading values improved to rise by 31 percent, reaching SR5.4 billion, as small companies recorded the highest trading value of SR2.7 billion. The medium companies were the least traded with a value of SR1.2 billion while the index of large companies recorded the least decline by 0.17 percent.
Five sectors rose compared to the decline of the remaining sectors. The gaining sectors were led by real estate traded funds by 1.2 percent, while media and entertainment sectors led the decline by 2 percent. Banks had the highest trading value amounted to SR989 million.
Foreign investors of all categories reduced their ownership in 111 securities listed on Tadawul, while their stake increased in 102 others whereas in the remaining sectors their ownership were stable.


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