• Banks causing Saudi stocks to exceed 7400, and liquidity rises 17%


              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

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