*Ahmed Al-Rasheed from Riyadh
Saudi shares returned to profitability in their weekly performance, after three weeks of declines, as the market ended the week at 8016 points, 102 points gain by 1.3%.
Despite the rise, however, trading values fell by about 24 million riyals.
The low profitability of companies continues to be an obstacle to the market's surge, especially in light of the decline in incentives and the continued rise in interest rates between banks, which increase the financial burden on companies with debt.
The first-quarter data showed higher revenues, with earnings falling, due to lower margins.
Technically, the market did not close above the 21-day average at 8044 points, and above that barrier. Stability is above several days that will increase risk appetite, which is pushing the market to reach 7330 points, where selling pressures will return. Support levels were at 7800-7700 points.
Overall market performance
The index opened at 7914 points, falling in two sessions and rising in the rest. The highest point was at 8096 points, 2.3% gain, and the index ended the week at 8016 points, 102 points gain by 1.3%.
Trading values fell 24 million riyals to reach 19.7 billion riyals by about 0.1 per cent, at a rate of 40 thousand per transaction.
Traded shares rose 2 per cent by about 19 million shares to reach 905 million traded shares, with a turnover rate of 1.7 per cent.
Deals fell 8 per cent by about 467,000 from 46,000 to reach 497,000.
Seven sectors rose against the rest.
The rise was led by "Telecommunication" of 3.4%, "Banks" of 3% and "Long Term Goods" of 2.7%.
The decline was led by "Information" of 8.7%, followed by "food segmentation" of 5.5% and "capital goods" of 3%.
The highest turnovers were "banks" by 28 per cent with a value of 5.6 billion riyals, "basic materials" by 28 per cent with a value of 5.5 billion riyals, and then "management and development of real estate" by 17 per cent with a value of 3.4 billion riyals.
The rise was led by "SRECO" of 26 per cent to close at SAR30.43, followed by "Nama Chemicals" of 21 per cent to close at SAR 27.85, and "Alsorayai group" of 19 per cent to close at SR 21.99.
The decline was led by "Al Babtain" of 12.39 per cent to close at SAR 25.53, followed by "SALAMA" of 12 per cent to close at SAR 22.24, and "Amana Insurance" of 11 per cent closing at SAR14.83.
The main turnovers were "Dar Al Arkan" by 15 per cent with a value of SR 2.8 billion, followed by "SABIC" with a value of SAR 2.6 billion by 13 per cent, and "Alinma" with a value of 2.2 billion of 11 per cent.