• Saudi stocks .. Buy liquidity compensates losses of the index and enter the Green Zone


              Saudi shares continued to rise for the second session to close at 6992 points, gaining 15 points, or 0.22 percent, close to the 7000 point barrier. The rise came with the support of basic materials and banks led by "Al Rajhi", but the liquidity of the market entered the market and compensated losses and introduced the market to the Green Zone and closed the index at the highest level in the session to show the control of buyers on the index, but this did not dispel the concerns of dealers towards the path of the market, which could not to return above its averages or 7000 points barrier.
    So far, leading companies have not announced what will make it difficult for traders to determine a direction for the market, which may be behind the decline in during the session with liquidity down about 16%.
    6870 points remain the last line of defense while 7000 points are an important resistance barrier.

    Market performance

    The general index opened at 6976 points. The highest point was at 6992 points, gaining 0.22 percent. The lowest point at 6955 points was 0.3 per cent. The general index closed at 6992 points, a gain of 15 points, or 0.22 percent. . Liquidity declined 483 million riyals by 16 per cent to 2.4 billion riyals, at a rate of 34,000 riyals per transaction. Shares traded also declined 23% to Rls 33 million to 108 million shares, with a drop rate of 0.57%. Transactions dropped 4 percent to 71.7 thousand.

    Sector performance

    Nine sectors rose against the rest. Public utilities rose by 2 percent, followed by energy by 0.9 per cent and transport by 0.9 percent. The decline in the "luxury goods" was led by 0.75%, followed by "insurance" by 0.5% and "medicines" by 0.49%. The highest issue was "Banks" with a value of SR 915 million (37%), "Basic Materials" (20%), and "Insurance" (18%) at SR 435 million.
    Stock performance

    The market traded 176 stocks, 95 shares rose against 70 shares declined and the rest stabilized. Malath Insurance was the top loser at SAR 15.14, followed by United Insurance by 7.4 per cent to SAR 14.67 and Electric Industries by 4.4 per cent to SAR 21.08. On the other hand, Tawuniya was down 2.4 percent to close at 98.99 riyals, followed by Union Commercial Bank by 1.9 percent to close at 22.54 riyals.
    The highest turnover was Al-Enmaa with a value of SR 549 million, 22 per cent, followed by SABIC at SR 328 million, 13 per cent, and Al Rajhi third with SAR 229 million, 9 percent.

    -Economic Reports Unit

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