• Saudi stocks are returning to rise with the best daily performance in 8 sessions ... and liquidity is falling below 10 billion riyals


    ​Saudi stocks rose again, achieving their best daily performance in eight sessions, to close at 8,633 points, winning 51 points, by 0.6 percent, while the MT30 index, which measures the performance of the blue-chips, increased four points by 0.43 percent to close at 1153 points. The rise came with support from most sectors, and it was indicated in the previous report that the market will face support at an average of 20 days and was able to hold and bounce and most of the gains came in the auction session, during which it rose 35 points.​

    The increase came with the lowest liquidity in a month with transactions below ten billion riyals, and the continued decline in liquidity will increase the extent of volatility in light of the speculative activity. Market sensitivity will remain high towards any negative variables due to the high multiples of their profitability. The continuation of the market consolidation above the 20-day average and 8,620 points will remain opportunities for a rebound, but the sustainability of the bullish trend depends on an improvement in fundamentals that still do not justify the rise, which makes the market vulnerable to the return of selling pressures.​

    Overall market performance

    The general index opened at 8,568 points, trading between high and low. The highest point was at 8,633 points, 0.61 percent winning, while the lowest point was at 8,536 points, losing 0.5 percent. At the end of the session, the index closed at 8,633 points, winning 51 points, about 0.6 percent. Liquidity declined 7 percent by about 702 million riyals to reach 9.5 billion riyals, while traded shares fell 2 percent by 6.9 million shares to reach 369 million traded shares, and deals fell 7 percent by 34,000 deals to reach 425,000 deals.​

    Sectors performance

    The "food retail" sectors declined by 0.43 percent, and "real estate traded funds" by 0.1 percent. The rise was led by “capital goods” by about 4 percent, followed by “long-term goods” by 3.8 percent, and by “investment and financing” by about 3.6 percent.
    The highest turnover was "basic materials" by about 18 percent with a value of 1.7 billion riyals, followed by "insurance" by about 10 percent with a value of 994 million riyals, and thirdly, "food production" by about 9 percent, at a value of 924 million riyals.

    Stock performance​

    The rising shares were led by "Naseej" by about 10 percent to close at 40.15 riyals, followed by "Gulf General" by 9.98 percent to close at 24.90 riyals, and the third by "electrical industries" by 9.9 percent to close at 23.22 riyals. On the other hand, the decline was led by "Anaam Holding" by 9.9 percent to close at 112.60 riyals, followed by "Amiantit" by 2.66 percent to close at 25.60 riyals, and by "SABB" by 2.4 percent to close at 24.70 riyals.
    The highest turnover was "Naseej" with a value of 376 million riyals, followed by "Abu Moati" with a value of 337 million riyals, and "Wafra" with a value of 315 million riyals.

    Economic Reports Unit​

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