Saudi stocks closed at their highest level in 15 months to reach 8621 points, winning 48 points by about 0.57 percent, while the MT30 index increased seven points by 0.6 percent. The market reached a new level this year at the auction session, with 26 points increasing by 281 million riyals. The increase came in trading volume, down 9 percent from the previous session, to record 12.8 billion riyals, the lowest in three sessions. The market rise supported speculative activity, as increased profitability repercussions and high uncertainty about corporate profitability and economic growth in light of the Corona pandemic, do not justify the continued rise of the index. The market is looking forward to new positive data, to face the potential selling pressures after the long wave of the rally, which will stimulate short-term investors to reap profits.
Overall market performance
The general index opened yesterday's session at 8,565 points, trading between high and low. The lowest point was at 8,548 points, losing 0.29 percent, while the highest was at 8,621 points, gaining 0.57 percent. At the end of the session, the index closed at 8,621 points, winning 48 points, about 0.57 percent. Liquidity decreased 9 percent by about 1.3 billion riyals to reach 12.8 billion riyals, while traded shares fell 4 percent by about 22 million shares to reach 529 million shares, and deals fell 10 percent by about 54 thousand deals to reach 510 thousand deals.
Nine sectors retreated against the rise of the rest. The decline was led by "public utilities" by 1.5 percent, followed by "transportation" by 0.73 percent, and by "splitting luxury goods" by 0.44 percent. While the increase was led by "medicines" by 3.76 percent, followed by "long-term commodities" by 3.3 percent, and by "real estate management and development" by 2.1 percent.
The highest turnover was "basic materials" by about 24 percent with a value of three billion riyals, followed by "long-term goods" by 11 percent with a value of 1.4 billion riyals, and the third solution for "capital goods" by about 10 percent with a value of 1.2 billion riyals.
The rising shares were led by "sincerity" by 9.97 percent to close at 16.32 riyals, followed by "eligibility" by 9.96 percent to close at 16.12 riyals, and the third by "paper industry" by 9.95 percent to close at 109.40 riyals. On the other hand, the decline was led by "Wafra" by 3.1 percent to close at 141.40 riyals, followed by "Astra Industrial" by 2.76 percent to close at 26.45 riyals, and by "Amiantit" by 2.4 percent to close at 18.60 riyals.
The highest turnover was "Chemanol" with a value of 588 million riyals, followed by "Naseej" with a value of 518 million riyals, and "Lazurde" with a value of 479 million riyals.
Economic Reports Unit