Market seeks to overcome the 9,000 points during the next week (economic analysis)
Saudi Arabia's index closed at its highest level in five and a half years
Saudi shares continued their rise weekly for the third consecutive week, the General index to the highest close this year, for five and a half years, when 8988 points. The market did not lose their gains dramatically, with slight decreases, reflecting the domination of buyers for the second consecutive week. The market was up 0.66 percent, compared to 1.25 percent last week, which means a weekly growth of market value to the market by about 47 percent, with higher values of trading by about 1.1 billion reals. These indicators show the strength level of 9,000 points, the market traded lower throughout the week.
Declining sectors doubled to six sectors, compared to three in the previous week. And retreating the connections which was the largest the retreating, performed in line with expectations, the sector is still vulnerable to further declines. And also the banking sector, which grew weak with loss of most of its profits in the last week. The ' PC ' still able to continue high, facing the other leading sectors retreats. Arrow scores was able to achieve historic prices hikes, such as the ' Saudi ' pipe, ' Omer ', shares of other top level in leading stocks, mainly in the banking sector. But the list of top owners have seen mostly cut investors shares in dozens of companies, each fell below 5 percent ownership, and market entry of a new investor owns 5% shares in ' Secretariat ' insurance, which was more than the stock market in a circular last week, up 192 percent.
The market will seek to exceed the level of 9,000 points to enhance point-9035; then traders will await the capacity market stability above those levels. Maintaining levels above 9,000 points at the end of next week, will contribute to increasing risk appetite among customers and increase their investments in the market; they paid to new levels this year. The levels of 8800 point barrier support.
The overall performance of the market index opened last week at 8,528 points, up in four meetings against the decline in one session, how volatility 0.83 per cent. The market has made a slight 0.12 weekly losses per cent and could cursor to achieve the highest level in five and a half years at 8380 points, pared part of its gains at the end of the week, closed at 8845 points, winning 59 points, 0.66 percent, its highest close this year. Trading value rose 4 per cent to 32.7 billion and the average value per transaction 62.1 thousand riyals. Shares traded rose 11 percent to 1.2 billion shares, trader and the rotation rate of 6.6 per cent free float, rose 4 per cent to deals 526 000 deal.
Performance of sectors raised six sectors for reduction to seven, and the stability of the agricultural sector. And high real estate development sector, by 6.7 per cent, followed by the insurance sector with 4.5 percent, and a third of the energy sector, 1.4 percent. Declining exports, by 1.73 percent, followed by hotels, up 1.54 percent, and the third media sector, by 1.21 percent. The petrochemical sector, worth six billion riyals, 18.5 per cent, followed by the insurance sector, worth 5.9 billion riyals, by 18.3 per cent, solution III real estate development sector, worth 5.5 billion, 17 percent. Either the most circular free stock is the insurance industry, with 33 percent, followed by real estate development sector, 15 per cent, the third sector, by 9.2 per cent. And the most in value per trade, the banking sector, worth 114, followed by petrochemicals, 107, 000, and a third of the energy sector, the value of 103 000.
The performance of the stock were traded with 160 shares in the market , of which 105 shares rose , 42 stocks fell , and 13 stocks closed unchanged price . Issued high share " markets the farm " by 60.4 percent , to close at 57.75 riyals , followed by " care " , 17 per cent , to close at 40 riyals , came in third share " WAFA Insurance " , 15 per cent , to close at 78.75 riyals . The biggest loser shares " Seiko " , by 5.12 percent , closing at 51 riyals , followed by " Allianz SF " , by 4.7 per cent , to close at 70.50 riyals , came in third share " Dallah Health " , by 4 per cent , to close at 80 riyals. The most enjoyed plenty of liquidity , he shares, " SABIC " , by 7.6 per cent , trading at 2.5 billion riyals , followed by " development " , by 7.3 per cent , worth 2.3 billion riyals , came in third share " Arkan " , by 7.1 per cent , trading at 2.3 billion riyals. The most Tdoara of free shares , shares are issued , " the secretariat of Insurance " , by 192 per cent , followed by " care " , by 92 per cent , came in third share " WAFA Insurance " , by 61 per cent. The largest rate of the transaction value per share was in " communication " , worth 228 thousand riyals , followed by " Telecommunication Union " , a value of 184 thousand riyals , came in third share " Safeco " , worth 158 thousand riyals.