TASI closes Monday’s session losing 304 points due to shareholders worries

(MENAFN) Saudi Arabia’s main index dropped 304 points on Monday, as shareholders avoided the market because of declining business sentiments, inflationary weights, and approaching disturbances around the forthcoming of the worldwide economy.

The Tadawul All Share Index, recognized as TASI, was 2.84 percent lower standing at 10,419 on Monday, while the similar market Nomu declined 44 points or 2.98 percent to 1441.

TASI declined under 11,000 on the 21st of November and has been soaring under that value ever since.

On Monday, of the 219 registered firms on TASI, 190 declined, whereas 20 grew.

Etihad Atheeb Telecommunication Co. surged 2.88 percent to top the earners, shadowed by Saudi Industrial Investment Group and Theeb Rent a Car Co., whose stock value rose 2.09 percent as well as 1.60 percent individually.

Previous to the market start Saudi Industrial Investment Group announced a 7.5 percent cash reduction, at SR0.75 (USD0.20) a share, amounting to SR566.1 million (USD150.5 million).


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