In fact, during the first trading days of the month of Ramadan, Saudi stock indices remained stable and did not show significant changes. This occurred after the pent-up demand for stocks was released, while the Tadawul All-Share Index continued to rise. Analysts assert that the market sentiment was positive and influenced this pent-up factor, including internal and external events.
However, as of Monday, the situation has changed, and the stocks opened without significant changes, which was caused by some unexpected developments in relation to significant news about the future. Over the years of religious events like Ramadan, investors often prefer to hold their financial assets and wait for a clearer picture for decision-making.
"Many investors await signals that might influence their investment decisions. Such a situation is typically typical of the month of Ramadan," said one of the experts. However, despite the minor corrections, analysts express optimism about the market's further development, predicting increased activity following the minor pullback at the beginning of the month.
