12/09/2017
Saudi shares continued to rise for the fourth session in a row to close at 7411 points, winning 33 points, or 0.45 per cent. This
came with the support of major banks, which led the market to this rise
and was the best performing sectors in yesterday meeting with
liquidity exceeded the barrier of three billion riyals. It appears that the market was able to overcome the resistance 7360
points which was a previous peak, but it is possible to return to the
market to confirm the market penetration of the barrier in terms of
technical.
The market ability to maintain above resistance levels will support
the index's reach to 7,500 points, the highest level in two years.
Market performance
The
general index opened at 7377 points, recording no losses to reach the
highest point at 7418 points, gaining 0.55%. At the end of the session,
the general index closed at 7411 points, a gaining 33 points, or 0.45%. Trading values rose by 44% to SAR 3.1 billion, with a fall of SR 47.3 thousand. While
traded shares increased 16 million traded shares by 13 percent to 144
million traded shares, with a turnover rate of 0.76 percent. Transactions rose 15 percent to 83,000.
Sector performance
Eight sectors fell against the rise in the rest and the stability of "medicines". The
decline was followed by "Media" by 2.5%, followed by "Consumer
Services" by 0.91%, and "Management and Development of Real Estate" by
0.46%. Banks rose 1 percent, followed by Insurance by 0.87 per cent and Public Utilities by 0.64 per cent.
The highest turnover was "Banks" by 29 percent at SR 899 million,
followed by "Basic Materials" by 26 percent at SR 820 million and
"Insurance" by 14 percent at SR 820 million.
Stocks performance
The market traded 174 shares, 101 shares against 62 losing stocks and the stability of 11 shares. Amana
Insurance was the top, closing at SAR 29.65, followed by
Gazadco by 5.76% to SAR 18.18. Wafa Insurance was the third biggest
loser by 4.74% to SAR 25.42. "Arabian Shield" was down 4.3% to SAR 40.32, followed by "Research
& Marketing" by 2.6% to close at SAR 73.01.
The highest fall was AlEnma with 563 million, followed by SABIC with 410 million at 13 percent and Al Rajhi by 5 percent at SAR 143
million.
* Economic Reports Unit
