• Saudi stocks start the week down by 19 points and liquidity at 3 billion riyals

    18/03/2019

     

    * Ahmed Al-Rasheed from Riyadh

     

    Saudi shares fell after three winning sessions and closed at 8563 points, losing 19 points, or 0.23 percent, under pressure from the banking sector.

    The market value fell by about 4 billion riyals to reach two trillion riyals.

    The MT30 was down three points, 0.28 per cent.

    The decline came after three sessions of winning, which may make the decline of natural profit and secondary movement, with the possibility of return to profitability in keeping with the levels of 8560 points, where the higher stability makes 8720 levels easy to verify.

    It is expected that the actual accession in today's meeting of international indicators will be follow-up movements of foreign liquidity and its impact on the market, which will play an important role in the expectations of customers towards the movement of the market, where it is expected that foreign liquidity will push the index up.

    If this happens, it will increase the appetite of local dealers, which improves the performance of the market, and vice versa.

    If it has no effect, the market will see a high uncertainty about the direction of the market, which may increase selling pressure.

     

    Overall market performance

    The index opened at 8582 points trading between high and low.

     The highest point was at 8606 points, 0.27 per cent.

     The lowest point was at 8553 points, losing 0.34 per cent.

     At the end of the session, the general index closed at 8,853 points, losing 19 points, or 0.23 percent.

    Liquidity declined 37 percent by about 1.7 billion riyals to reach 3 billion riyals and the average value of the deal was 32,000 riyals.

    Traded shares fell 27 per cent by 50 million shares, to 135 million shares traded, and the circulation rate was 0.25 per cent.

    Deals fell 31 per cent by about 43,000 to reach 94,000 deals.

     

    Sector performance

    Nine sectors rose against the decline of the rest.

    The rise was led by "transport" by 1.2 percent, followed by "energy" by 0.95 per cent, and "Investment and Finance" by 0.9%.

    The decline was led by "medicines" by 1.9 per cent, followed by "food segmentation" by 1.1 per cent, and "food production" by 0.97 per cent.

    The highest turnovers were "banks" by 28 per cent with a value at 846 million riyals, followed by "basic materials" by 27 per cent that was amounting to SR 813 million, and then "Telecommunications" by7% with a value of SR 217 million.

     

    Stock performance

    The rise was led by "Khodari" that rose to a maximum of SAR 5.20, followed by "Al Alamiya" by 5.8% to close at 33.60 riyals, and "Cisco" by 5.8 per cent to close at SAR 13.50.

     

     On the other hand, the decline was led by "Al-Maather Reit" by 7.9 percent to close at 7.78 riyals, followed by "Riyad Riet" by 2.76 per cent to close at 7.75 riyals, and "Savola Group" ended the day with 2.56% closing at SAR30.50.

    The highest bid was "Al Rajhi" with a value of 285 million riyals by 9 per cent, followed by "SABIC" with a value of SAR 245 million (8 per cent), and "Alinma" was valued at SR 234 million at 8 per cent.

     

    * Economic Reports Unit​

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