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FinancialNews
22-11-22
TASI closes Monday’s session under 11K levels first time in two months
(MENAFN) Saudi Arabia’s benchmark index dropped for the third session in a row on Monday after the reigning global sentiment around the possibility of an aggressive US monetary policy.
For the initial time since Sept. 27, the Tadawul All Share Index dropped under the psychological mark of 11,000, dropping 1,100 points in 1 month.
TASI lost 122 points to end at 10,930, even as the similar market Nomu added up 73 points to close at 19,049.
Of the 218 firms registered on TASI, 35 jumped, whereas 174 decreased. The overall exchanging turnover stood at SR3.97 billion (USD1.06 billion).
The market also took its cues from the southbound crude oil costs on Monday as provision worries declined whereas worries around China’s fuel request and surging interest levels weighted on the prices pushing them down.
Both benchmarks finished Friday at their worst numbers since Sept. 27, continuing their losing trend for a second week, with Brent decreasing 9 percent while US West Texas Intermediate declines 10 percent.
MENAFN22112022000045014228ID1105216618
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