• Saudi stocks dominate selling pressure after 4 weeks



              Saudi stocks rebounded after four week declines to end the week at 7,011 points, up 31 points, or 0.34 percent.
    The banking sector was able to return to profitability after it was the biggest compressor on the market and the sector's pressure on the market after encouraging results from Enma and Riyadh Bank improved the sentiment of the sector towards the results.
    Although the market is moving against oil movements, which makes factors currently more important than factors. The focus is now on the third quarter financial results, which will determine the course of the market by the end of the year.
    The index managed to recover 7000 points but still trading below its averages, so ending next week with gains of more than 100 points will improve the risk appetite and push the market to a higher level, and remains the 6870 points is the most important support for the market now, as maintaining it will support the long term positive.

    Market performance
    The market opened the week at 6987 points, fell in session and rose in the rest. The lowest point of the week was 6,925 points, or 0.89 percent, while the highest point at 7013 points was 0.38 percent.
    At the end of the week, the market closed at 7011 points, winning 31 points, or 0.34 percent, and trading values ​​fell 23 percent by 3.7 billion riyals to 12.8 billion riyals, at 35.7 thousand riyals per transaction.
    While traded shares fell 3.5 percent by 23 million shares to 628 million shares traded, drop was 1.2 percent, while transactions fell 8 percent to 358 thousand transactions.

    Sector performance
    Six sectors rose against the rest. Public utilities rose by 2.76 percent, followed by energy by 1.7 percent and banks by 1.56 percent. The decline was led by "food fragmentation" by 2 percent, followed by property management and development by 2 percent and communications by 1.7 percent.
    The highest drop was "Banks" by 35 percent, with a value of 4.4 billion riyals, followed by "basic materials" by 22 percent, amounting to 2.8 billion riyals, and "insurance" by 15 percent at 1.9 billion riyals.

    Stock performance
    The highest turnover was "Malath Insurance" Al Tawuniya was the top loser by 5.76 percent to close at 97.04 riyals, followed by Makka by 5.7 percent to close at 76.03 riyals and Medgulf Insurance by 4.9 percent to close at 27.41 riyals.
    The highest turnover was Enma (2.8 billion) at 22 percent, followed by SABIC with SAR1.5 billion (12 percent) and Al Rajhi (7 percent) at SAR930 million.

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