• Saudi shares regain 8000 points with support of "basic materials", and liquidity rises 29%


    * Ahmed Al-Rasheed from Riyadh


    Saudi stocks regained 8000 points to close at 8,044 points, up 48 points, 0.6 percent, with liquidity rising by 29 percent by about 713 million riyals to reach 3.1 billion riyals. It is due to the support of the basic materials sector, mainly from SABIC.

    The market witnessed stability and a tendency to retreat in the first session, but after the activity of  "SABIC" and the index surpassed the 8000 points barrier, it began to increase activity until the end of the session.

    With the index closing above the 21-day average, stability at current levels would boost risk appetite, pushing the market higher to 7,300 points.


    Overall market performance

    The general index opened at 7996 points, trading between high and low. The highest point was at 8046 points, 0.62 per cent, while the lowest point was at 7969 points, 0.34 per cent.

    At the end of the session, the general index closed at 8,044 points, up 48 points, 0.6 percent.

    Liquidity rose 713 million riyals by about 29 per cent to reach 3.1 billion riyals.

    The average value of the deal is 36 thousand riyals.

    While traded shares increased 23 per cent by about 24 million shares traded to reach 129 million shares. The turnover rate was 0.25 per cent.

    Transactions rose 10 per cent to nearly 87,000, with about 8,000 transactions.


    Sector performance

    Seven sectors retreated against the rise in the rest.

    The decline was led by "food segmentation" of 0.65 per cent, followed by "fragmentation of luxury goods" of 0.4 per cent and "food production" of 0.26 per cent.

    While the rise was led be "basic materials" that rose by 1.59%, followed by "energy" of 1.43% and "medicine" of 1.16%.

    The highest turnovers were "Basic Materials " of 39 per cent with a value of SR 1.2 billion, followed by "banks" of 22 per cent with a value of 685 million riyals, and then "Real Estate Management and Development" of 13 per cent valued at SR 398 million.


    Stock performance

    The rise was led by "SRECO" that rose 7.7% to close at SAR 33.02, followed by "SABB Takaful" of 5.93% to close at SAR 20.37 and "Shams" of 5% to close at SAR 33.69.

    On the other hand, the decline was led "Al-Khodari" of 2.6 percent to close at 8.36 riyals, followed by "MCDC" of 2.2 percent to close at 80 riyals, and "Saudi Budget" of 2.2 percent to close at 33.52 riyals.

     "SABIC" had the highest turnover of SAR 709 million (22 per cent), followed by "Alinma" with a value of SR 368 million (12 per cent), and "Dar Al-Arkan" by 8 percent with a value of 249 million riyals.


    * Economic Reports Unit

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