Ahmed Al-Rasheed from Riyadh
Saudi stocks rose for the fourth consecutive session, in the longest streak in a month, to close at their highest levels since July 2019 at 8,884 points, winning 14 points, about 0.17 percent. While the MT30 index, which measures the performance of the leading stocks, increased by 0.22 percent, to close at 1193 points. Most of the increase came in the closing auction session, during which it won about 11 points in trading of 242 million riyals. The market maintains relatively low levels of liquidity below its monthly average, with transactions amounting to 8.6 billion riyals. The market monitors the results of the companies and the extent to which they achieve performance in line with market expectations.
On the technical side, the market will face resistance at current levels, but its continuation of maintaining support 8760-8740 keeps chances of the index reaching 9000 points. However, the continuation of the increase depends on risk appetite remaining high due to the increase in profitability.
Overall market performance
The general index opened at 8861 points, trading between high and low. The highest point was at 8884 points, 0.17 percent winning, while the lowest was at 8854 points, losing 0.17 percent. At the end of the session, it closed at 8884 points, winning 14 points, about 0.17 percent. Liquidity decreased 9 percent by about 927 million riyals to reach 8.6 billion riyals, while traded shares fell 26 percent by about 80 million shares, to reach 221 million shares, and deals fell 13 percent by about 49 thousand deals, to reach 344 thousand Deal.
Eight sectors retreated against the height of the rest. The decline was led by "real estate management and development" by 0.3 percent, followed by "consumer services" by 0.2 percent, and by "health care" by 0.2 percent. While the rise was led by “applications and technology services” by 2.7 percent, followed by “retail luxury goods” by 0.9 percent, and “transportation” by about 0.78 percent.
The highest turnover was "basic materials" by about 20 percent with a value of 1.7 billion riyals, followed by "insurance" by about 13 percent with a value of 1.1 billion riyals, and the third solution for "commercial and professional services" by 11 percent with a value of 944 million riyals.
The rising shares were led by “Al-Omran” by 9.9 percent, to close at 110.60 riyals, followed by “ACIG” by 8.8 percent, to close at 69.50 riyals, and “Al-Samaani” by 6.6 percent, to close at 357 riyals. On the other hand, the retreat led by "Tender" by about 2.9 percent, to close at 39.05 riyals, followed by "The Red Sea" by about 2.8 percent, to close at 24.26 riyals, and by "Tabuk Cement" by about 1.7 percent, to close at 18.30 riyals. The highest turnover was "Al-Samaani" with a value of 881 million riyals, followed by "Al-Omran" with a value of 458 million riyals, and the third was "Arab Sea" with a value of 334 million riyals.
Economic Reports Unit