Saudi stocks broke their longest losing streak in nine months after ending the last session of June with a slight gain, supported by most companies, led by Acwa Power, while trading values improved compared to the previous session.

The TASI index closed at 10,800 points, up 0.1%. Despite the modest price gain, the session reflected a clearer improvement in liquidity and market breadth compared to the previous day, when the index lost 1.1%. In terms of liquidity, trading value rose 25% to SAR 5.5 billion, outperforming the average since the start of the year.

Technically, the index remained about 2.14% below its 200-day simple moving average. At the company level, the internal picture has not fully improved, with 170 stocks closing below their 200-day average compared to 81 above it, though the numbers improved from the previous session.

Return of Buying Activity

The return of buying activity after the relatively long losing streak did not occur early in the session, as the market was down 0.3% during trading. However, it comes without any fundamental change in conditions from the past few days, keeping the positive move limited. It may extend to test the 11,000-point level again, but sustainability requires the emergence of financial results or changes in underlying factors that increase risk appetite.

Saudi stocks broke their longest losing streak in nine months after ending the last session of June with a slight gain, supported by most companies, led by Acwa Power, while trading values improved compared to the previous session.

TASI

Liquidity Improvement

The TASI index closed at 10,800 points, up 0.1%. Despite the modest price gain, the session reflected a clearer improvement in liquidity and market breadth compared to the previous day, when the index lost 1.1%. In terms of liquidity, trading value rose 25% to SAR 5.5 billion, outperforming the average since the start of the year.

By sector, performance was almost evenly split, with 11 sectors rising and 11 falling. The durable goods sector led gains with 2.82%, followed by utilities at 1.67%, consumer services at 1.36%, and food production at 1.19%. In contrast, the household and personal products sector was the biggest loser, dropping 1.21%, followed by telecom at 0.81%, and insurance at 0.51%.

From a sector liquidity perspective, the banking sector accounted for the largest trading value at approximately SAR 1.41 billion, representing about 25.6% of total market turnover, but it ended the session with a slight decline of 0.05%, with a net liquidity outflow of SAR 247.5 million. It was followed by the basic materials sector with trading of SAR 648.7 million and a limited rise of 0.06%, then energy with SAR 546.9 million and a marginal gain of 0.01%. This reading shows that the increase in liquidity was not concentrated only in rising sectors, but also included leading sectors that remained relatively neutral.

Blue Chips Cap Index Gains

At the company level, 160 stocks rose, 79 fell, and the rest were flat, in moves that were better than the previous session, especially in mid- and small-cap stocks, while some blue chips capped the main index's gains.

There was noticeable activity in small-cap stocks, with six companies rising 9% or more: Eastern Province Development, Tihama, Metkore, Al Asmak, Artes, and Amanah Insurance. In contrast, no company recorded a decline of 5% or more.