• Saudi stocks dropping 42 points forced by other sectors


              Saudi stocks dropped by the pressure to close at 7351 points, losing 42 points, or 0.57%, as sellers dominated most of the session. The performance was in line with the previous report, where it was noted that the levels of 7428 points resistance levels increase selling pressure and that the levels of support at 7353 points and the closure by two points. It is important in today's session to consolidate and recoil, otherwise the wave of retreats will extend to 7278 points as a break of the support barrier which closed at yesterday session.

    arket performance
    The general index opened at 7393 points, trading between high and low. The highest point at 7411 points was 25% gain, while the lowest point at 7343 points lost 0.68%. At the end of the session, the index closed at 7351 points, losing 42 points by 0.57%. Trading values ​​fell 135 million riyals by 4 percent to three billion riyals, at a rate of 37.5 thousand riyals per transaction. While traded shares fell 15 million shares by 11 percent to 127 million riyals, with a drop rate of 0.67 percent. Deals fell 11 percent to 80.3 thousand.

    Sector performance
    All sectors except Food Production declined by 0.22 percent, followed by Telecommunications by 0.16 per cent. The decline was followed by "Media" by 2.7%, "Investment and Finance" by 1%, "Management and Real Estate Development" by 0.97%. The highest turnover was "Basic Materials" by 30 percent at 916 million riyals, followed by "banks" with a value of 908 million riyals by 30 percent and insurance by 14 per cent at 416 million riyals.

    Stock performance
    The market traded 174 stocks, 128 losers against 43 shares and four stocks. Al Waha rose by 7.4 percent to close at 54.32 riyals, followed by Al Ahlia by 2.98 per cent to close at 12.44 riyals and Nadec third by 2.2 percent to close at 30.60 riyals. "Mesc" was down 3% to SAR 9.10, followed by "Printing & Packaging" by 3% to SAR 22.99 and Madina cement by 2.8% to SAR 10.57.
    The highest drop was Enma (Rls 536 million), followed by SABIC (Rls 337 million) at 11 percent and Al Waha (10 percent) at 291 million riyals.
    Economic Reports Unit

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