TASI index falls below 9,600 level amid selling pressure

The Saudi Stock Exchange (TASI) experienced a significant decline, with the index falling approximately 1% at the opening to drop below the 9,600 level. This downturn was driven by widespread selling pressure, affecting 189 companies while only 68 saw gains out of 273 listed entities.

Among the most significant declines, Al-Ittihad shares dropped nearly 9.9% to 5.55 SAR, followed by Astra Industrial and Jadwalco. In terms of trading activity, Al Rajhi Bank led with 67.6 million SAR, followed by Saudi Aramco and SABIC. Despite the general market decline, SABIC shares rose 2.24% to 44.7 SAR following a reported third-quarter net profit of approximately 133 million USD, representing a 16.3% growth.

The market volatility was further highlighted by reports that 60 companies and 9 real estate investment funds reached historic lows. Notable companies hitting new lows included Tadawul Group, Nahdi, and various firms within the cement and insurance sectors.