قطاع البنوك يدفع "تاسي" للارتفاع 1.1% مستعيدا مستويات 12 ألف نقطة

"TASI" Rises 1.1% Driven by Banking Sector

The "TASI" index closed the day 1.1% higher, reaching 12,008 points, driven by the banking sector, particularly "Al-Rajhi", with trading value increasing by 29%.

Positive Sentiment Fueled by Strong Bank Performance

"Al-Riyadh's" results surpassed expectations, boosting investor sentiment towards the sector's financial performance, pushing all its components upward.

• Increased Trading in Banking Stocks: The trading volume in banks increased, particularly for "Al-Riyadh", "Al-Rajhi", and "Al-Bilad". These stocks, with increased trading volume, share positive expectations for double-digit growth in their profitability in the third quarter.

• Mixed Performance in Other Sectors: "SASCO" stock rose 0.5% following a 14% growth in the company's business in the third quarter, while "Raya" stock declined 3% after the company reported an 18% decline in its profits.

Market Performance Summary

• Overall Trading: The trading value increased by 29% to reach 5.8 billion riyals, with "Small Companies" attracting most liquidity. "Medium Companies" recorded the lowest trading volume at 929 million riyals, while "Large Companies" performed better, exceeding "TASI" with a 1.4% increase.

• Sector Performance: The "Financial Services" and "Public Utilities" sectors declined by 0.3%, while other sectors, led by "Banks" with a 2.3% increase, recorded higher trading values. The "Banks" sector had the highest trading value of 1.4 billion riyals.

Conclusion

The "TASI" index's rise reflects the positive performance of the banking sector, driven by strong financial results and investor confidence. The increased trading volume in the banking sector indicates robust activity and optimism for future profitability.