• Saudi stocks dropp under 7100 points in a sixth straight decline session


            Saudi stocks has dropped for a sixth consecutive session to see the longest streak in a year. Where the longest series of declines lasted nine sessions and ended at the end of July last year. The decline under pressure from "banks", but SABIC was the largest compressor on the market. The index closed at 7094 points, losing 21 points, or 0.3 percent. The performance was in line with expectations, with the market falling to 7100-7050 points. As today session is expected to find support at this level.
    Most of the companies reported their financial results, most notably Maden, which achieved 2356 million in the second quarter, higher than expected by about 5 percent, which could boost the performance of the stock today and improve the general performance of the market.
    market performance
    The general index opened the session at 7115 points, did not record any gains to move at the lowest point of the session at 7076 points, losing 0.55 percent, at the end of the session closed at 7094 points, losing 21 points, or 0.3 percent. Trading values ​​rose 11 percent to 2.8 billion riyals, at a rate of 33,000 riyals per transaction. While traded shares rose 7 per cent to 110 million shares traded, and the turnover rate was 0.58 per cent. transactions roseup 14 percent to 84,000.
    Sector performance
    Eight sectors rose against the rest. Media roseup by 1.6 percent, followed by Food Fragmentation by 1.2 percent and Energy by 0.65 percent. Insurance was down 1.1 per cent, followed by Public Utilities by 0.7 percent and the Public Funds by 0.6 percent.
    The highest drop was "Banks" with a value of SR 742 million (27%), "Basic Materials" (20%) at SR 563 million and "Food Production" (13%) at SR 346 million.
    Stock performance
    The market 174 stocks, 82 shares advanced against 86 shares and six stocks declined. Mabco was the top performer at SAR15.72, followed by Shams by 9.9 percent to SAR 31.54 and Eastern Development by 5 percent to SAR 50.76. On the other hand, Medgulf Insurance was down 7.8 percent at SAR16.09, followed by Printing & Packaging by 5.6 percent to SAR17.79 and Al Jawf third by 4.7 percent to SAR 27.61.
    The highest drop was Al Enmaa with a value of 459 million riyals at 17 per cent, followed by SABIC with a value of 379 million riyals at 14 per cent and a third by al-Rajhi with a value of 203 million riyals at 7 per cent.

    Economic Reporting Unit

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