• Local stocks add 25 billion riyals to their market value in a week



    * Ahmed Al-Rasheed from Riyadh



    Saudi stocks rose again in their weekly performance to close at the highest level since August 2015, where the index increased by 125 points by 1.48 percent to stand at 8559 points.

    The market value of shares rose by 25 billion riyals during the week to reach 2.02 trillion riyals.

    The MT30 index rose 1.6 percent to close at 1258 points, as it exceeded the general index, which indicates that the positive move was the share of leading companies.

    Unlike the weeks of this year, the market lost some of its gains during the week, cutting a third of its gains.

    The market is still looking for more data to guide its investment decisions.

    The market is able to rise to 8660 points, 8460 points as support.


    Overall market performance

    The index opened its weekly session at 8434 points.

     The highest point was at 8635 points, 2.38 per cent, while the lowest point was at 8408 points, losing 0.31 per cent.

    At the end of the week, it closed at 8559 points with 125 points gain of 1.48 percent.

    Trading values rose 27 percent by about 3.7 billion riyals to reach 17.9 billion riyals, or 28,000 riyals.

    While the traded shares rose 34% by 207 million shares to reach 821 million shares, with the turnover rate of 1.6 per cent

    Deals rose 23 per cent by about 118,000 to reach 635,000 deals.


    Sector performance

    Four sectors fell against the rise of the rest and the stability of "medicines."

    The rise was led by "capital goods" by 5.2 per cent, followed by "Consumer Services" by 4.4 per cent and "Food production" by 3.9 per cent.

    The decline was led by "Energy" by 1.8 per cent, followed by "Telecommunications" by 1.2 per cent and "food segmentation" by 0.69 per cent.

    The highest turnovers were "basic materials" at 36 percent with a value of five billion riyals, followed by "banks" by 22 per cent with a value of 3.2 billion riyals and "capital goods" by 6 per cent with a value of SAR 923 million.


    Stock performance

    The rise was led by "Amiantit" by 18 per cent to close at SAR 7.14, followed by "SSP" by 17 per cent to close at 24.40 riyals, and "Emaar" that is closing at 9.35 riyals at 14 per cent.

    The decline was led by "SAMBA" by 4.2 percent to close at SAR36.30, followed by "Saudi Fransi" by 3.4 per cent to close at 37 riyals, and "Bahri" by 3.2 per cent to close at 31.75 riyals.


    "SABIC" was the most active in the value of SR 1.5 billion at 7 per cent, followed by "Al-Rajhi" worth 1.3 billion riyals by 6 per cent, and the "Alinma" with a value of SR 1.2 billion at 6 percent.

    * Economic Reports Unit

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