Saudi stocks ended yesterday's session 46 points higher, 0.54 percent, to close at 8572 points, while the MT30 index, which measures the performance of the blue-chips, increased five points by about 0.5 percent. The market achieved 14 green points during the auction period, with transactions approaching a quarter of a billion riyals. The rise came despite the varied performance of sectors and stocks and a decline in liquidity.
The market achieved strong gains during the recent period, as it rose about 9 percent in about two weeks and reached levels close to the top annually, and without new incentives and variables stimulating to buy, the market will face difficulty in surpassing 8,600 and stability higher than it, especially with the increase in the multiplications of profitability, and the high uncertainty About corporate profitability.
With the increasing speculative tendency, the losing companies dominated the list of the most gainers, while the major stocks were absent from the top of the most traded list, which shows that the market is less robust in the face of fluctuations, given the interest of dealers in achieving capital gains rather than forming long-term positions in shares of companies Value and growth that is the largest in the general index.
Overall market performance
The general index opened at 8,546 points and headed towards the highest point in the session at 0.75 percent. At the end of the session, it closed at 8,572 points, winning 46 points, about 0.54 percent. Liquidity fell 12 percent by 1.8 billion riyals to reach 14 billion riyals, while traded shares rose 11 percent by about 53 million shares to reach 551 million traded shares, and deals fell 6 percent by about 35 thousand deals to reach 564 thousand deals.
Ten sectors rose against the decline of the rest. The rise was led by “applications and technology services” by 4.7 percent, followed by “long-term goods” by 1.8 percent, and by “real estate management and development” by 1.7 percent. While the decline was led by “public utilities” by 3.3 percent, followed by “food fragmentation” by 1.7 percent, and by “medicines” by 1.7 percent. The highest turnover was "basic materials" by about 26 percent with a value of 3.6 billion riyals, followed by "insurance" by 9 percent with a value of 1.3 billion riyals, and "capital goods" by 9 percent with a value of 1.3 billion riyals.
The rising stocks led the "paper industry" by 9.9 percent to close at 99.50 riyals, followed by "sincerity" by 9.9 percent to close at 14.84 riyals, and "Amiantit" by 9.9 percent to close at 19.06 riyals. On the other hand, the decline was led by “Al-Omran” by 5.1 percent to close at 96.60 riyals, followed by “SABB Takaful” by 4 percent to close at 27.05 riyals, and by “Tihama” by 3.9 percent to close at 63.10 riyals. The highest turnover was "Naseej" with a value of 603 million riyals, followed by "Al-Samak" with a value of 427 million riyals, and "cables" with a value of 405 million riyals.
Economic Reports Unit