Business News Details

Saudi stocks rising up for fourth session, Insurance sector is the highiest in trading
22/08/2017
Saudi shares roseup for a fourth consecutive session to close at 7225 points, winning 16 points, or 0.22 percent.
Trading values are still below SR 3 billion despite the continuous highs, indicating that the confidence level in the current wave started to recede, especially with the loss of the continuous market gains during the session, as mentioned in the previous reports to the resistance at 7250-7200 points, which may enter the market in a wave of profit soon, especially in light of the inability of the market to overcome the resistance, but the declines will be limited to levels of 7180 points, the market to try to build New wave height. The "Insurance" sector was the most active in yesterday's session to be the highest market trader with a liquidity volume of SR 598 million (21%). It was one of the winning sectors, showing the activity of speculators in the market and the liquidity constraints on the leading shares that dominated the volume of trading in the last sessions .

Market performance

The general index opened at 7209 points, recording a slight decline and then rose to a session high of 7246 points, 0.51%. At the end of the session, the general index closed at 7225 points, a gain of 16 points, or 0.22%. Trading values rose 109 million riyals to 2.8 billion riyals, at a rate of 31.3 thousand riyals per transaction. While traded shares fell 2.4 million shares to 134 million shares traded, with a drop rate of 0.70%. Transactions rose 5 percent to 91.1 thousand.
Sector performance

Eight sectors dropped against the rest. "Media" by 2.4%, followed by "Property Management and Development" by 0.88%, and "Capital Goods" by 0.81%. The rise in the "real estate funds" was 2.6%, followed by "energy" by 1.8% and "insurance" by 1.50%. The highest turnover was "insurance" by 21 percent, with a value of 598 million riyals, followed by "banks" with a value of 583 million riyals by 20 percent, and the third by "basic materials" by 15 percent at 433 million riyals.

Stock performance
The market traded 174 stocks, 88 shares roseup against 78 shares and eight shares declined. Al Jazirah was the top loser at 22.38 riyals, followed by Amanah Insurance by 5.85 percent to close at 27.13 riyals and United Insurance by 4.28 per cent to SAR 15.60. Al Babtain was down 3.76% to SAR 27.88, followed by Research & Marketing by 2.7% to SAR 67.43 and Xtra by 2.17% to SAR 45.95. The highest turnover was Al enma (SAR 339 million), followed by SABIC (SAR 235 million) at 8 percent and Amanah Insurance (5 percent) at 144 million riyals.

Saudi stocks rising up for fourth session, Insurance sector is the highiest in trading