stocks dropped slightly towards stability in the last session of
the week and closed at 7373 points, losing only six points, amidst the performance of sectors and stocks and the decline in trading values of less than three billion riyals. The
telecom sector has put pressure on the market and the sector's retracting are following a decision to allow voice calls through applications,
which has affected the expectations of investors towards the revenues of
companies from the phone sector decline as a result of the use of
applications, but the use of applications for calls will increase the
consumption of data.
the market managed to maintain levels above 7360 points for the second
session in a row and improved oil prices contributed to the
consolidation of the market at current levels, but the prices of Brent
crude may find it difficult to exceed the barrier of $ 56 and unless the
market finds new catalysts will ent up to 7250 - 7280 points to come back after a new wave of gains.
general index opened at 7379 points, trading between high and low. The
highest point at 7389 points was 0.13%. The lowest point at 7353 points
lost 0.36%. The general index closed at 7373 points, losing six points
by 0.09%. . Trading values fell 1 billion riyals by 27 per cent to 2.8 billion rials at a rate of 36,000 riyals per transaction. While
traded shares fell 16 million shares by 13 percent to 115
million shares, and the turnover rate was 0.61 per cent. Deals rose 7 percent to 79,000.
Seven sectors rose against the rest. Food products rose by 1.45 per cent, followed by consumer services by 0.64 percent. Telecommunications dropped 3 percent, followed by Media by 1.7 percent and Investment and Finance by 1.12 percent.
The highest turnover was "Basic Materials" with 28% of 805
Million, followed by "Insurance" by 23% with 645 Million and "Banks"
with Rls 602 Million by 21%.
The market was traded 174 shares rose 69 stocks against the decline of 96 shares and stability of nine shares. Salama
rose 9.18% to close at 21.53 riyals, and the third "Asij" by 5.8% to close at 16.89
riyals. Telecom was the top loser by 3.5 percent to close at SAR 72.53,
followed by Construction by 3.1 percent to SAR 18.11 and Medgulf
Insurance by 2.9 per cent to SAR 12.65.
SABIC had the highest turnover of SR 539 million (19 per cent),
followed by Al-Enma (Rls 361 million) at 13 percent, and Enaya by 4
percent wkith112 million riyals.
- Economic Reports Unit