Saudi stocks are close to erasing losses for the year ... and the lowest liquidity in 10 sessions
Saudi stocks rose by 26 points to close at 8,364 points, winning 0.32 percent, while the MT30 index, which measures the performance of the leading stocks, increased by less than one point, to close at 1108 points with slight gains. The session did not witness similar activity to the previous sessions, as liquidity decreased to the lowest level in ten sessions, and the extent of volatility decreased with it, showing a decrease in dealers ’appetite for the market after it approached erasing losses at the beginning of the year, and levels of 8490 points, which constitute the last summit of the market before sliding into a corrective wave It ended at 5959 points last March, which makes these levels a resistance that is likely to witness an increase in selling pressures there, especially with the close of the end of the third quarter and an anticipation of the financial performance of companies after the end of the ban period, while the support is at 8,100 points.
Overall market performance
The general index opened at 8,357 points, and headed towards the highest point in the session at 8,376 points, winning 0.47 percent. At the end of the session, it closed at 8,364 points, winning 26 points by about 0.32 percent, and liquidity declined 26 percent by about 3.8 billion riyals to reach 10.8 billion riyals, at a rate of 25 thousand riyals per transaction, while traded shares decreased 15 percent by about 79 thousand shares to reach 439 One million traded shares, with a turnover of free shares of 0.78 percent, and the deals fell 2 percent by about 7,000 deals to reach 416,000 deals.
Seven sectors retreated against the rise of the rest. The decline was led by "pharmaceutical" by 1.8 percent, followed by "health care" by 1.45 percent, and "retail luxury goods" by 0.34 percent. While the rise was led by “capital goods” by 3.5 percent, followed by “applications and technology services” by 2.1 percent, and by “investment and financing” by 1.3 percent. The highest turnovers were "food production" by about 16 percent with a value of 1.7 billion riyals, followed by "basic materials" by 16 percent with a value of 1.7 billion riyals, and the third was "insurance" by about 11 percent with a value of 1.2 billion riyals.
The rising shares were led by "Salama" for the maximum rate to close at 18.70 riyals, followed by "Amana Insurance" by 9.95 percent, to close at 24.30 riyals, and "Al Yamamah Steel" by 9.9 percent to close at 23.06 riyals. On the other hand, the decline led by "Al-Mouwasat" by 2.4 percent to close at 128.80 riyals, followed by "Bupa Arabia" by about 2 percent to close at 124.40 riyals, and by "Suleiman Al-Habib" by about 2 percent, to close at 96.20 riyals.
The highest turnover was "Asmak" with a value of 818 million riyals, followed by "Dar Al-Arkan" with a value of 509 million riyals, and "Aramco" with a value of 473 million riyals.