18/08/2017
Saudi stocks doubled to close at 7179 points with gains of 50
points, or 0.72 percent, with trading with 15 percent to three
billion riyals.
The performance was in line with expectations, as it was noted
that the market reached the target levels 7100 points and coherence will
restore confidence to the market, which opens the appetite for risk,
which prompted the market to double its winning points with activity in
the values of trading. Support from the banking sector led by Al Rajhi.
The
companies' results season ended, the listed companies reached
165 companies with a combined profit of 56 billion riyals. The
continued achievement of the companies in the consolidated profit
increases their ability to end the year with the growth in profits,
especially as the pace of government spending of the candidate to
increase, because of the decline in expenditure in the first half of the
planned, which will enhance the activity of the economy and reflected
directly or indirectly on companies Listed.
Technically,
the stability of the market at the current levels enhances its chances
to visit levels 7250-7300 points and then try to achieve levels above
7360 points. Support levels at 7100 points.
Market performance
The
general index opened at 7180 points, did not make any significant
losses to reach the highest point in the session at 7180 points, winning
0.73 percent. At the end of the session, the general index closed at
7179 points, 50 points, or 0.72 percent. Trading
values roseup 394 million riyals by 15 per cent to three billion rials
at a rate of 30.9 thousand riyals per transaction. While
traded shares roseup15 percent by about 20 million shares to 156 million
traded shares, with a turnover rate of 0.82 percent roseup 12 percent to 98,000.
Sector performance
Six sectors declined against the rest. The decline was led by "real estate traded funds" by 1.9%, followed by "luxury goods" by 0.9% and "medicine" by 0.6%. "Media" rose by 7.4%, followed by "food production" by 2% and "utilities" by 1.7%. The highest turnover was "Banks" with a value of SR 668 million
(22%), "Basic Materials" (17%) at SR 503 million and "Real Estate Funds"
(10%) with RO 302 million.
Stock performance
The market traded 174 stocks, 107 roseup against 61 shares and stability of the rest. Research
and marketing rose 8.22 percent to 68.10 riyals, followed by Al Andalus by 4.3 percent to close at 21.85 riyals, and Boroj Insurance came
third with 3.7 percent to close at 34.87 riyals. Al Hokair
fell 4.3% to SAR 45.62, followed by REIT Education by 3.9% to close at
SAR 14.96. Thirdly, Sharqia Development was 3.4% lower at SAR 50.15. The highest turnover was Al Enma (SAR 400 million), followed by
SABIC (SAR 246 million) at 8 percent and Al Rajhi (SAR 171 million) at 6
percent.
Economic Reporting Unit
