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TASI falls 0.6% to 11,010 points, turnover SAR 7.6B
Saudi Tadawul drops 0.6% to 11,010 with SAR 7.6B turnover. The move signals profit-taking after recent rally as oil volatility weighs on sentiment. Next catalyst: OPEC policy meeting.
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The Saudi Tadawul All Share Index dropped 0.6% to 11,010 points on the session, with total turnover reaching SAR 7.6 billion. The decline follows a four-week rally that had lifted the benchmark more than 5% from mid-August levels.
Oil Correlation and the Sell-Off
Saudi equities move in close alignment with crude prices. Brent crude fell 1.2% in overnight trading on renewed demand concerns from China, the world's largest oil importer. The drop directly pressures petrochemical and energy components, which together account for about 35% of TASI weighting. The index's 0.6% decline mirrors that move, not a company-specific catalyst.
The Turnover Signal
Today's SAR 7.6 billion turnover sits above the 30-day average of roughly SAR 6.5 billion. When TASI posts a decline of this magnitude with below-average volume, it often reverses within two sessions. The above-average turnover signals conviction behind the selling, likely institutional profit-taking after the recent run. Elevated turnover separates this move from a low-volume drift.