Saudi stocks stabilized with little change in trading less than three months to maintain its sideways course for the fourth session, as previous sessions were trading within a single range. Yesterday's close came at 7505 points, and keeping the index on those levels is important for non-slip to a new wave of decline that could end at 7200 - 7230 points. The frenzy of activity comes in the light of the decline in incentives and the expectation of dealers to the results of companies where they are not accustomed to the length of advertisements that will end by the end of next month. It would be followed by the results of the first quarter, which makes the anticipation may extend to the end of the results of the first quarter.
Overall market performance
The general index opened at 7506 points, trading between high and low. The highest point was at 7529 points about 0.31 percent, while the lowest point was at 7496 points about 0.13 percent. At the end of the session, the general index closed at 7505 points, losing only less than a point. Liquidity fell 0.7 percent about 18 billion riyals to reach 2.7 billion riyals, the lowest in three months. The average value of the deal is 33 thousand riyals. While traded shares fell 7% about 7.9 million shares to reach 112 million shares traded, and the turnover rate was 0.21%. Transactions fell 2 percent to reach 84,000 transactions.
Eight sectors rose against the rest. The rise was led by "Transportation" of 1.3 percent, followed by "consumer services" of 1.2 percent, and "health care" by 1 percent. While the decline was led by "Media" of 1.2%, followed by "commercial and professional services" of 1%, and "energy" of 0.95%.
The highest turnover was "banks" with a value of 686 million riyals by 25 percent, followed by "Basic Materials" with a value of SR 616 million by 22%, and "Real Estate Management and Development" with a value of SR 290 million by 10%.
* Economic Reports Unit