• Saudi stocks fall for the second session under the pressure of "real estate" .. And liquidity below 3 billion riyals


    * Ahmed Al-Rasheed from Riyadh


    Saudi stocks fell for a second straight session to close at 7,513 points by losing 25 points, 0.34 percent. Previous reports indicated signs of weakness in the general trend and that the market was subject to selling pressure.

    The levels at 7500 points support the index in today's session, through breaking it, the selling pressure will increase to 7460 points while the resistance remains at 7560 points. The decline came under the pressure from "Dar Al Arkan" stock as well as  "Savola" stock that played a supporting role in pressuring the index. The market is still losing its activity, with liquidity falling below three billion riyals, which is less liquid in two months.

    Last week's trading data showed a rise in the purchases of qualified investors to nearly half a billion riyals, a record that has not been achieved before. This indicates that the market is close to international indices that may attract liquidity to improve the level of declining market activity.



    Overall market performance


    The general index opened at 7539 points; it did not make a noticeable gain and decreased to the lowest point at the session at 7503 points, losing 0.47 percent.

    At the end of the session, the general index closed at 7,513 points, losing 25 points, or 0.34 percent. Liquidity declined 601 million riyals by 17 per cent to reach 2.8 billion riyals, a rate of 31.8 thousand riyals. While traded shares fell 20 percent by 40 thousand shares to 164 million shares traded, and the turnover rate was 0.3 percent. Deals fell 8 percent to reach 89,000 deals.



    Sector performance


    Five sectors rose against the rest; "Insurance" rose by 0.9%, followed by "luxury goods" by 0.7%, and "consumer services" by 0.2%. While the decline of "food production" was by 1.6%, followed by "management and development of real estate" by 1.4%, and "long-term goods" by 0.7%."Real Estate Management and Development" was 25% higher at SAR 711 million, followed by "Basic Materials" (22%) at SAR 625 millions, and "Insurance" (17%) at SAR 480 million.



    Stock performance


    "Chub" rose 5.7 percent to close at SAR 24.77, followed by "SAICO" by 3.5 percent to close at SAR 19.41, and then "Solidarity Takaful" by 3 percent to close at SAR 22.82. On the other hand, "Dar Al Arkan" was down 5.6 percent to close at 9.7 riyals, followed by "Mashaer Rit" by 3.1 percent to close at SAR 9.29, and "Savola" by 2.2 percent to close at SAR 41.19.




    "Dar Al Arkan" had the highest turnover of 23 percent at SAR 648 million, followed by "SABIC" with SAR 206 million at 7 percent and, "Kayan Alsaudia" at 7 percent with SAR 195 million.


    * Economic Reports Unit​

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