Riyadh-Mubasher: Tadawul All-Share Index (TASI) is forecasted to decline to its support levels of 9,485-9,430 points, AlJazira Capital said in a report.

Although the index opened Thursday on a positive note, it failed to break through the 9,570 level and declined again.

The TASI drifted lower on Thursday – the first day in the holy month of Ramadan – with a loss of 0.39% or 37.51 points to close at 9,505.74 points.

The market decline was coupled with a drop in liquidity, as it reached SAR 3.81 billion; its lowest level in more than 18 months (since 27 November, 2013).