30/09/2017
Saudi stocks rose in the best daily performance in three weeks to close at 7283 points, 0.7% gain. The rise in the best performance of most sectors and the basic materials sector was the main supporter of SABIC 2% rise. The
good performance of the market coincided with the improvement in
trading values, which rose by half a billion to reach three billion
riyals. This performance reflects the market's 7200-point support, which opens
the appetite for higher levels of up to 7,400 points, especially as
FTSE anticipates emerging markets that the market may join.
Market performance
The
general index opened at 7233 points, trading between high and low, the
lowest point at 7224 losing 0.12%, while the highest point at 7284
points winning 0.7%, the end of the session closed the general index at
7283 points, winning 49 points, or 0.7 percent. Trading
value rose 490 million riyals to 3 billion riyals by 18 per cent, at
43,000 riyals per share, while the traded shares increased 19 per cent
by 20 million to 126 million, with a drop rate of 0.66 percent. Transactions rose 2 percent to 71,000.
Sector performance
Six
sectors retreated against the rest of the rest. The "Basic Materials"
rose by 1.3%, followed by "Telecommunications" by 0.9% and "Real Estate
Funds" by 0.9%. "Insurance" rose by 1.3%, "Media" by 0.6% and "Food Retail" by 0.5%.
The
highest drop was "Banks" by SR 33 billion, followed by
"Basic Materials" by 32% at SR 996 million and "Insurance" by 12% at SR
381 million.
