• Saudi stocks is doubling, up with 17%


             Saudi stocks raised to a near 0.6 percent gain in yesterday's session, closing at 7,785 points amid a rally in most stocks. The performance was in line with the previous report, where it was noted that the market at 7200 points will push the market to levels of 7300 points, by 15 points, which is likely to achieve today. The 7300 levels are resistance, so exceeding them will increase risk appetite and push the market higher, companies have not announced their financial results, liquidity has begun to improve, rising 19 percent to half a billion riyals to exceed the three billion riyals mark.

    Market performance
    The general index opened at 7244 points, the highest point at 7288 points, 0.6%. At the end of the session, the general index closed at 7285 points with a gain of 41 points, or 0.57%. Trading values ​​rose 529 million riyals to 3.2 billion riyals by 19 percent, at a rate of 39,000 riyals per transaction as traded shares rose 17 million traded shares by 15 percent to 134 million shares traded, and the turnover rate was 0.7 percent, contracts rose 15 percent to nearly 83,000.

    Sector performance
    Seven sectors retreated against the rise in the rest, followed by "commercial and professional services" by 0.97% and "capital goods" by 0.45%. Public Utilities dropped by 1.4 percent, followed by Consumer Services by 1.3 percent and Food Distribution by 1.3 percent.
    The highest turnover was "Banks" with a value of SR 34 billion, followed by "Basic Materials" by 26% to SR 855 million and "Insurance" by 11% amounting to SAR 354 million.

    Stock performance
    The market traded 176 stocks. Aldrees rose 5.5 percent to SAR 30.92, followed by Al Waha by 3.6 per cent to SAR 56.05. Thirdly, Al Rajhi Takaful was 3.16 percent to SAR 58.39. On the other hand, Medgulf Insurance was the top loser by 5.6 percent to close at SAR 30.96, followed by Misk by 4 percent to SAR 8.97. SALAMA third with 3.35 percent to close at 22.22 riyals.
    Enma was the top with a 23 percent stake of SR 760 million, followed by SABIC with SAR 474 million at 15 percent and Al Rajhi by 6 percent with SAR 202 million.
    -Economic Reports Unit

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