09/11/2013
The market is seeing a strong movement from senior investor
Saudi stocks make the best weekly performance in two months
The Saudi stock market has achieved the best performance of the week in two months, with retreats throughout the week ended trading yesterday, so performance check longest rise in five months, brought the index to its highest level in five years. Dominant buyers on transactions never lose any market gains as the index stands at important resistance levels and inability to overcome during three months. At a time when liquidity does not interact with the positive moves to 24.4 billion riyals, while last year the index trades over 70 billion dollars in a week. The reason for the decline in liquidity eased speculation, with a recycling rate of over 100 per cent in the week, the stock was the strongest investment liquidity even in daily trades dropped to liquidity insurance sector takeover for other sectors.
The market has seen strong moves by leading owners with shares of Saudi 'pipes' into a new strategic investor owns 5 percent, and United industries sold its share in the '' engineer '' representing 29 per cent of the capital of the company, 'Alquain' and the number of investors to their shares, some companies also saw a decline in the ownership of the senior can read these moves as positive reaction to corporate earnings and continued improvement in the performance of the economy. Next week is one of the most important weeks in the market, which has clear vision of the market should be stable above current levels, and may support this move by the leaders and especially the arrow 'SABIC' who seeks to reach the levels of 110 SR.
Indicator failed to exceed current levels representing the previous Summit, which has already dropped by about 8 percent three months ago. Supports persistence above the access point indicator 8,196 to levels approaching 9,000 points in the medium term, supported by a positive outlook for corporate results, which may reach 100 billion to achieve the highest level of profitability in the market, in the third quarter when profits amounted to 30 billion. While the weekly support when 7870 preceded by levels between 8080 and up 8,100 points.
The overall performance of the market index opened at 8,418 points earlier in the week and did not achieve any loss into series high is the longest in the five months, up to the highest level in five years when 8262 point, and could then gain closure 218 points, or 2.7 percent. And trading values rose 1.4 billion by 6.2 per cent to 24.4 billion riyals. And the average value per transaction 60.2 thousand riyals. And shares traded rose to 19.7 million shares by 2.3 percent to 883.8 million shares. The rotation rate of 4.6 per cent free floats. And the deals increased 3.7 percent to 405,000.
Performance of all sectors on the rise ahead of the transport sector by 7.8 per cent, followed by the energy sector by 4.6 per cent, the third sector by 3.5 per cent, and the construction sector was the lowest rise of 0.94 percent. And the top was the petrochemical sector by 19 per cent in trading of 4.8 billion, followed by the insurance sector by 12 percent to 2.9 billion, third sector banks by 11 percent to 2.7 billion. And the top circular free insurance sector shares by 16 per cent, followed by the transportation sector by 14 percent, and the third investment sector multiple of 10 per cent. And top rate per transaction value energy sector at a rate of 106 000 followed by the banking sector worth 98, and third the petrochemical sector to 96 000.
The performance of the stock market trading 157 shares raised 114 shares versus declines of 34, with nine stocks unchanged rates. Soaring shares issued '' Bubba Arabic 'by 15 per cent to close at 38.70 riyals, followed by arrow' communication 'by 10.6 per cent to close at 54 riyals, and the third arrow '' marine '' by 10 per cent to close at 23.95. And top down arrow 'Ahsa development '' by 5.1 per cent to close at $ 13.95, followed by arrow' Eastern development 'by 3.3 per cent to close at $ 64.25, the third arrow' Red Sea 'by 2.8 per cent to close at 49.30. Top-traded shares 'SABIC' two billion riyals by 8.4 per cent, Followed by 'development' shares worth 1.4 billion by 5.6 per cent, the third arrow 'Kayan' worth billion by 4.3 per cent. Top circular free stock shares '' eligibility '' by 73 per cent, followed by arrow 'cooler' by 64 per cent and the third arrow '' prevention of interdependence 'with 63 percent. Top rate per share '' deal flow '' worth 159 000, followed by arrow 'communication' value of 157 thousand riyals, and the third arrow 'Etisalat' worth 156 000.
