* Ahmed Al-Rasheed from Riyadh
Saudi stocks fell to break a series of gains lasted three sessions.
It closed yesterday at 8039 points, 31 points down by 0.39 per cent.
The market failed to settle higher than the 8050 points, which were an important point in terms of technical, as they constitute an average of 21 days.
The market's inability to stabilize above the support shows weakness of the uptrend and lower risk appetite and the continuation of trading below the end of the week confirms the return of the market corrective wave, which may extend to a minimum of 7800 and may extend to 7630 points.
The fundamentals do not appear to be supportive of the market, as the high profitability of the market, with the decline in the profitability of companies in the first quarter affect the market appetite of investors, especially as the market has calculated the impact of the market's accession to international indices.
In today's session it is important to return above 8050 points to maintain weekly gains and the market's inability to return above these levels will be subject to continued selling pressure.
Overall market performance
The general index opened at 8070 points, and the session is trading between the high and low. The highest point was at 8096 points, winning 0.33%, while the lowest point was at 8027 points, losing 0.54%
The general index closed at 8,039 points, losing 31 points, 0.39 percent
Liquidity declined 30 percent by about 1.7 billion riyals to reach 3.9 billion riyals at a rate of 37,000 riyals.
While traded shares fell 22 per cent by about 53 million traded shares to reach 184 million shares traded, and the turnover rate was 0.35 per cent.
The deals fell 6 per cent, 6.6 thousand, to reach 106,000 transactions.
Six sectors rose against the rest.
The rise was led by "long-term goods" of 0.59 per cent, followed by "luxury goods segmentation" of 0.53 per cent and "trade and professional services" of 0.4 per cent.
While the decline was led by "Media" of 5%, followed by "food segmentation" of 2.7% and "utilities" of 2.4%.
The main turnovers were "basic materials" at 31 per cent with a value of 1.2 billion riyals, followed by "management and development of real estate" at 21 per cent with a value of 807 million riyals, and "Banks" at 20% with a value of SR 798 million.
The rise was led by "Nama" of 9.9 per cent to close at SAR 27.10, followed by "Al-Sorayai Group" of 7.5 per cent to close at SR 21.67 and "SSP" of 4.6 per cent to close at SAR 20.20.
On the other hand, the decline was led by "Al-Ahlia" that was down 5.2 percent to close at SAR 10.92, followed by "SRMG" of 4.9 percent to close at SAR 90.94, and then "NGC" of 4.3 percent to close at SR14.35.
The highest turnovers were "Dar Al-Arkan" worth 684 million riyals (17 per cent), followed by "SABIC" with a value of SAR 573 million (15 per cent), and "Alinma" with a value of SR 488 million (12 per cent).
* Economic Reports Unit