• The Saudi stock market has experienced a significant downturn, with the Tadawul All Share Index dropping 0.6% to 12,035 points, marking its lowest close since December 30. This decline is attributed to disappointing corporate earnings, particularly in the petrochemical sector, which has seen all major companies report results below expectations. The banking and telecommunications sectors also contributed to the market's decline, with Al Rajhi Bank and Saudi Telecom Company both experiencing notable losses. Investors are now balancing caution with opportunities to buy undervalued stocks amidst this downturn.

• The recent performance of the Saudi stock market reflects broader economic concerns, particularly regarding the petrochemical industry, which is facing pressure from high costs and declining profit margins. Analysts suggest that the market may see speculative trading as investors look to capitalize on lower stock prices. The decline in trading volumes, particularly during the first session of Ramadan, indicates a cautious sentiment among investors. With the market breaking through key technical support levels, the outlook remains uncertain, and further volatility is expected as companies prepare to announce their earnings.