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Business News Details
Saudi stocks, technical breakthroughs that improve the future and boost risk appetite
Saudi stocks extended their gains for the second consecutive session, supported by gains from most sectors and shares, to close at 6,779 points, up 17 points, or 0.26 percent.
The index managed to break through the 21 day average, improving the outlook for the short term performance of the market, especially as it managed to stabilize higher than the remaining sessions of the week, which will give stability to the rise of risk appetite, which helps restore the barrier 7000 points.
6800 points remain an important support area for the market.
The 7,000 point barrier.
The general index opened at 6961 points, trading between high and low. The highest point at 6983 points was 0.31%. The lowest point at 6942 points was 0.28%. At the end of the session, the general index closed at 6979 points, 17 points, 0.26%
Liquidity declined 210 million riyals by 6 percent to 3.2 billion riyals, and the average transaction value was 34,000 riyals.
While traded shares increased 3 per cent to 192 million traded shares, with a drop rate of 1 percent.
Deals rose 12 percent to 94,000.
Four sectors retreated versus the rest.
Public Utilities was down 1 per cent, followed by Property Management and Development (0.87 percent) and Energy (0.09 per cent).
While "long-term goods" rose by 3.2%, followed by "health care" by 1.3% and "transportation" by 1.3%.
The highest drop was "Basic Materials" by 29%, to 960 million riyals, followed by "banks" with a value of 821 million riyals by 25 per cent and third by management and real estate development by 16 percent to SR 523 million.
The market traded 176 shares, 140 shares rose against 35 shares and stability of the rest.
Anaam Holding was the top performer, closing at 12.76 riyals, followed by
9.7 percent to close at 7.72 riyals. Thirdly, the paper industry was down 8.5 per cent to close at 8.02 riyals.
On the other hand, the decline of "exports" for the maximum to close at 16.02 riyals, followed by "Dar Al Arkan" by 3.3 percent to close at 8.99 riyals, and the third "Musk" by 2.6 percent to close at 8.08 riyals.
The highest drop was Al Enma (SAR 431 million), 13 percent, followed by Dar Al Arkan (SAR 378 million) at 12 percent, and SABIC (SAR 324 million) at 10 percent.
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