Ahmed Al-Rasheed from Riyadh
Saudi stocks fell for the second session in a row to close at 8,533 points, losing 14 points by 0.17 percent, while the MT30 index, which measures the performance of the blue-chips, fell by 0.22 percent.
Despite the decline, the market compensated most of the losses achieved during the session, which reached a peak of 0.95 percent, with the increase in its activity, as liquidity returned to more than ten billion riyals, and the activity of buyers showed the continued desire to buy in the market and the survival of risk appetite.
The market is expected to reach 8556 levels, which constitutes resistance to exceeding it, which will return it above 8600 points. However, stability is higher than it, and maintaining gains depends on the financial performance of companies for the third quarter and their compatibility with the expectations of dealers.
Overall market performance
The general market index opened the session at 8,517 points, and declined to the lowest point at 8,466 points, losing 0.95 percent. At the end of the session, it closed at 8,533 points, losing 14 points, about 0.17 percent. Liquidity rose 12 percent by 1.1 billion riyals to reach 10.2 billion riyals, while traded shares increased 17 percent by about 63 million shares to reach 440 million traded shares, and deals rose 15 percent by about 56,000 deals to reach 426,000 deals.
Seven sectors rose against the decline of the rest. The rise was led by "public utilities" by about 3.7 percent, followed by "food segmentation" by about 3.3 percent, and by "management and development of real estate" by about 1 percent. While the decline was led by "long-term commodities" by 2.7 percent, followed by "media and entertainment" by 2.3 percent, and "investment and finance" by 1.4 percent.
The highest turnover was "basic materials" by about 23 percent with a value of 2.3 billion riyals, followed by "capital goods" by about 15 percent with a turnover of 1.6 billion riyals, and the third solution for "management and development of real estate" by about 9 percent with transactions of 941 million riyals.
Declining stocks were topped by "Al-Jazira REIT" by 9 percent to close at 22.42 riyals, followed by "Al-Saqr Insurance" by 4.88 percent to close at 15.20 riyals, and the third by "Gulf General" by 4.8 percent to close at 23.50 riyals. On the other hand, the rise was led by "Halawani Brothers" by 9.94 percent to close at 74.10 riyals, followed by "farm markets" by 9.9 percent to close at 36.05 riyals, and by "Herfy Foods" by 9.88 percent, to close at 62.30 riyals.
The highest turnover was "Saudi Cable" by about 901 million riyals, followed by "Sipchem" with a value of 405 million riyals, and "Misk" with a value of 399 million riyals.
Economic Reports Unit