• Saudi stocks continue to rise for the third session, supported by the "food production"

    19/02/2019

     

     

    * Ahmed Al-Rasheed from Riyadh

     

    Saudi stocks continued their third consecutive session to close at 8,626 points with a nine-point gain of 0.1 percent.

    Liquidity declined 12 percent by about 327 million riyals to 2.3 billion riyals.

    The market value rose by 3 billion riyals to 2.05 trillion riyals.

    While the Mt 30 index performed better by 0.24 percent to end at 1277 points with three points.

    The rise in the market was supported by the "food production" sector led by "Savola."

    Market closures in the last three weeks come within one level, making the market moving in a horizontal direction.

     This comes as most companies do not announce their financial results, as well as the lack of new data to determine the direction of the market, especially in light of the high frequency, which restricts market movement if data are stable.

    The market faces resistance at 7677 points, while support was at 8500 - 8460 points.

     

    Overall market performance

    The general index opened at 8,617 points, trading between high and low.

     The highest point was at 8630, 0.15 per cent.

     The lowest point was at 8579 points, losing 0.44%.

    The general index closed at 8,626 points, with a nine-point gain of 0.1 percent.

    Liquidity declined 12 percent by about 327 million riyals to reach 2.3 billion riyals.

    The average value of the deal is 25 thousand riyals.

    Traded shares fell 12 per cent by 12 million shares to reach 92 million shares, with a turnover rate of 0.17 per cent.

    The deals fell 4 per cent by about 4,000 to reach 92,000 deals.

     

    Sector performance

    Nine sectors rose against the decline of the rest.

    The rise was led by "Food production" by 0.98 per cent, followed by "Telecommunications" by 0.78 per cent, and "energy" by 0.42 percent.

    While the decline was led by "investment and finance" by 0.77 per cent, followed by "capital goods" by 0.56 percent, and "long-term goods" by 0.51 per cent.

    The highest turnovers were "basic materials" at 32% with a value of SR 758 million, followed by "banks" by 25 per cent at a value of 589 million riyals, and "food production" by 7 per cent with a value of SAR 162 million.

     

    Stock performance

    The rise was led by "AlAhli REIT" by 3.8% to close at SAR 7.90, followed by "ACIG" by 3.1 percent to close at 23 riyals, and "Saudi Fisheries" by 2.9 percent to close at SAR 67.50.

    On the other hand, the decline was led by "Al-Khudari" that was closing at SAR5.68, followed by "Al Rajhi REIT" by 2.9 per cent to close at 8.46 riyals, and "SPM" by 2.6% to close at 12.54 riyals.

     

     

    "SABIC" had the highest turnover of SAR 273 million, followed by "Al Rajhi" that worth 256 million riyals, and "Alinma" was valued at 126 million riyals.

     

    * Economic Reports Unit​

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