• Saudi stocks up 49 points with SABIC support, and Liquidity rises 18%


           Saudi stocks rose in the best daily performance in three weeks to close at 7283 points, 0.7% gain. The rise in the best performance of most sectors and the basic materials sector was the main supporter of SABIC 2% rise. The good performance of the market coincided with the improvement in trading values, which rose by half a billion to reach three billion riyals. This performance reflects the market's 7200-point support, which opens the appetite for higher levels of up to 7,400 points, especially as FTSE anticipates emerging markets that the market may join.

    Market performance
    The general index opened at 7233 points, trading between high and low, the lowest point at 7224 losing 0.12%, while the highest point at 7284 points winning 0.7%, the end of the session closed the general index at 7283 points, winning 49 points, or 0.7 percent. Trading value rose 490 million riyals to 3 billion riyals by 18 per cent, at 43,000 riyals per share, while the traded shares increased 19 per cent by 20 million to 126 million, with a drop rate of 0.66 percent. Transactions rose 2 percent to 71,000.

    Sector performance
    Six sectors retreated against the rest of the rest. The "Basic Materials" rose by 1.3%, followed by "Telecommunications" by 0.9% and "Real Estate Funds" by 0.9%. "Insurance" rose by 1.3%, "Media" by 0.6% and "Food Retail" by 0.5%.

    The highest drop was "Banks" by SR 33 billion, followed by "Basic Materials" by 32% at SR 996 million and "Insurance" by 12% at SR 381 million.

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