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TASI inches down early Thursday

TASI inches down early Thursday
TASI went down 0.73% early Thursday

By: Bedour El Raie

Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) opened Thursday’s trading session in red territory, affected by the Federal Reserve’s decision of reducing interest rates by 25 basis points (bps)

By 10:40 am KSA time, the main Tadawul All-Share Index (TASI) went down 0.73%, or 62.99 points, to 8,669.65 points.

The Federal’s decision will affect the market’s performance negatively, especially the banking sector, Ali Al Jaafari, a technical analyst, told Mubasher.

The banking sector topped the declines falling 1.33%, as Samba Group and Al Rajhi Bank went down 4.59% and 1.31%, respectively.