17/12/2020
Saudi stocks rose by 0.7 percent, to close at 8,721 points, winning 61 points. While the MT30 index, which measures the performance of the blue-chips, increased nine points by 0.86 percent to close at 1164 points, to show the blue-chip support for the positive move of the market. This performance comes in response to the officials' statements accompanying the budget, where the emphasis on raising the industry and mining contribution Gross domestic product to 400 billion riyals in 2025. And the continued support of the private sector and its empowerment to lead economic growth, in addition to the continuation of public spending, directly and indirectly, through funds. The market movement was not as sharp as a result of the quarterly budget announcement and the preliminary budget announcement, which helps the market to meet its expectations.
For the overall market performance
The general index opened at 8,684 points, and was the highest during the session at 8,721 points, winning 0.7 percent. At the end of the session, the general index closed at 8721 points, winning 61 points, about 0.71 percent. Liquidity decreased slightly 1 percent by about 111 million riyals to reach 11.8 billion riyals, while traded shares rose 7 percent by about 26 million traded shares to reach 372 million shares traded, and deals fell 2 percent by about 9 thousand deals to reach 440 thousand Deal.
Sectors performance
Six sectors declined against the rise of the rest. The decline was led by “applications and technical services” by 0.6 percent, followed by “commercial and professional services” by 0.19 percent, and the third by “food splitting” by 0.16 percent. While the rise was led by "long-term commodities" by 2.8 percent, followed by "basic materials" by 1.4 percent, and "transport" by 1.4 percent.
The highest turnover was "basic materials" by about 30 percent with a value of 3.6 billion riyals, followed by "capital goods" by 9 percent with a value of one billion riyals, and "energy" by about 9 percent with a value of one billion riyals.
Stock performance
The rising shares led the "BCI" share for the maximum to close at 36.30 riyals, followed by "Al-Aseel" by 9.8 percent to close at 64.50 riyals, and the third "Al-Fukharia" by 6.9 percent to close at 102.80 riyals. On the other hand, the decline was led by "ACIG" by about 5 percent to close at 58 riyals, followed by "Naseej" by 4.4 percent to close at 42.25 riyals, and by "Saco" by 2.7 percent to close at 54 riyals.
The highest turnover was "refineries" with a value of 893 million riyals, followed by "FIPCO" with a value of 509 million riyals, and "Al-Fukharia" with a value of 491 million riyals.
Economic Reports Unit
