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Business News Details
Saudi stocks rising at best 3 in month trading, and Liquidity jumps 72%
Saudi shares rose up for a second consecutive session to close at 6,964 points, winning 0.5 percent at the highest trading value in three months, nearly four billion riyals.
The rising came with the support of most sectors, led by "banks", which is driven by the retract in the profitability of the profits and the circulation of some of its stocks value and the high valuation of some of its shares.
The market is now trading at the upper limit of a descending channel, meaning that if it continues to rise in today's session, it will exit the bearish path that started in April, making it more than 7000 easy to reach 7200 points.
The 6850 levels are the support barrier for the rest of the week.
The market did not pay attention to the boycott of Qatar, as its small size and weak trade exchange makes the eliminating of relations has an indelible impact on the Saudi economy.
In addition to the lack of impact on the volume of maritime, air or land transportation, which makes the Saudi trade movement will continue unaffected.
The general index opened at 6,927 points, trading between highs and lows. The highest point at 6974 points was 0.68 per cent, while the lowest at 6873 points, or 0.78 percent, at the end of the session closed at 6964 with a 37 percent gain of 0.54 percent.
Trading values rose up 72 percent to 1.6 billion riyals to 3.9 billion riyals, the highest in three months.
The average value of the deal is 63 thousand riyals.
While trading rose up 120 percent to 278 million traded stocks.
Transactions rose up 24 percent to 63,000.
Seven sectors rose against the rest of the rest and the stability of "medicines", "management and development of real estate" rose up by 1.6%, followed by "banks" by 0.8% and "health care" by 0.78%.
The decliners were "media" with 1.2 percent, followed by "capital goods" by 0.84 percent and "trade and professional services" by 0.75 percent.
Real Estate Management and Development was 30 percent higher at SAR1.2 billion, followed by Banks with 26 percent and SR3.51 million by 22 percent.
The market trading 174 stocks, down 56 percent while the rest of the stocks rose up and eight stocks stabilized.
Raed Education rose up by 10 percent to close at 16.08 riyals, followed by Al Baha by 9.9 percent to closing at 27.20 riyals and Thimar by 4.11 percent to close at 33.66 riyals.
On the other hand, "Research and Marketing" was down 2.7% to SAR 30.23, followed by "Metlive" by 2.4% to close at SR 21.08 and "Tihama Advertising" by 2.36% to SAR 38.45.
Dar Al Arkan was the top performer with 28 per cent trading, followed by SABIC with 18 percent at 691 million riyals and Al Enmaa at 673 million riyals at 17 percent.
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