Saudi Stocks Decline 1.34% Led by Media, Cement Sectors

Market Index Declines Sharply

The Saudi Arabian stock market experienced a significant downturn at Thursday's close, with the Tadawul All Share (TASI) index falling by 1.34%. The decline reflects broad-based selling pressure across multiple key industries.

Sector Performance Overview

The negative performance was primarily driven by losses in the Media & Publishing, Cement, and Insurance sectors. Market sentiment was overwhelmingly bearish, as indicated by the fact that 282 stocks fell while only 52 advanced, with 16 remaining unchanged.

Key Stock Movements

Among the session's worst performers was Saudi Research and Marketing Group, which plummeted 6.88% to reach a three-year low. In contrast, Dar Al Majed Real Estate Co Ltd emerged as a top gainer, rising 5.43% to close at 9.91.

Summary

The widespread losses on the Saudi stock exchange suggest investors are reacting to sector-specific headwinds. The performance of commodity markets, including a drop in crude and Brent oil prices, may also be influencing market sentiment in the region.

FAQ

Q: Which index was primarily affected in the Saudi market?
A: The Tadawul All Share (TASI) index was the main benchmark affected, declining by 1.34%.

Q: What were the main losing sectors?
A: The Media & Publishing, Cement, and Insurance sectors were the primary drivers behind the market's decline.

Source: Investing.com