* Ahmed Al-Rasheed from Riyadh
Saudi shares rose for a third straight session to close at 8,070 points, up 47 points, 0.59 percent.
The rise was supported by the banking sector that led by Al-Rajhi.
Since the beginning of the week, the market has recovered most of the previous week's losses. It was noted in a previous report that trading above 8050 points will contribute to the activity of speculators, which is reflected on the activity and movement of the market.
Liquidity rose 48 percent by about 1.8 billion riyals to reach 5.6 billion riyals, the highest since late last month.
The stability of the market was above the levels of 8050 points that will likely reach the market to levels of 8330 points, especially as oil continues to achieve new price levels this year.
This comes after the drop in oil supply surplus until it reached about nine million barrels away from the average of five years, which is targeted by the agreement to reduce production that shows success so far.
The rebound in oil prices may not be enough to push the market to achieve new levels due to the high repeatability of profitability and low returns with a decline in corporate profits in the first quarter to record 42 companies' losses.
There were expectations of higher pressure on margins in the coming period, especially on companies with high debt as the prices of Cyber at their highest level in nine years.
If these factors do not improve, the market will not be able to maintain the pace of rise and record higher price levels.
Al-Rajhi, SABIC, NCB and Riyadh Bank were valued at SR 1.4 billion, about 70 per cent of which were on Al-Rajhi while deals were priced below the rolling price.
Private transactions are carried out outside the market, so they do not have a direct impact on prices, while they are calculated within the values and volume of trades.
Overall market performance
The general index opened at 8023 points, slightly lower at the beginning of the session, and headed towards the highest point at 8079 points, gaining 0.7%.
At the end of the session, the general index closed at 8070 points, a gain of 47 points, or 0.59 per cent.
Liquidity rose 48 percent by about 1.8 billion riyals to reach 5.6 billion riyals, and the average value of the deal was 50 thousand riyals.
While traded shares increased 30 per cent by about 55 million traded shares to reach 237 million traded shares, with a turnover rate of 0.45 per cent.
The deals rose 8 per cent to reach about 112,000 deals.
Eight sectors fell against the rise in the rest and the stability of "medicines".
The decline was led by "Media" of 1.7%, followed by "food segmentation" of 1.6%, and "Insurance" of 0.8%
While the rise was led by "real estate management and development" that rose by 1.2%, "banks" of 1% and "luxury goods" of 0.69%.
The highest turnovers were "Banks" of 41 percent with a value of 2.3 billion riyals, followed by "basic materials" of 23 percent with a value of 1.2 billion riyals, and "Management and Development of Real Estate" of 16 per cent with a value of SR 884 million.
The rise was led by "NGC" that rose 9.7 per cent to close at SAR 14.99, followed by "Nama Chemicals" of 8.11 per cent to close at SAR 24.65 and "SRECO" of 6.9 per cent to close at SAR 28.34.
On the other hand, the decline was led by "EIC" of 5.1% to close at 22.70 riyals, followed by "Cisco" of 3.9% to close at 13.52 riyals, and then "eXtra" of 3.87 per cent to close at 70.82 riyals.
The highest turnovers were "Al-Rajhi" of 22 per cent with a value of SR 1.2 billion, followed by "Dar Al-Arkan" of 13 per cent with a value of SR 759 million and "SABIC" with a value of SR 617 million, 11 per cent.
* Economic Reports Unit