• Saudi stocks add 21 billion riyals to market value in a week



    * Ahmed Al-Rasheed from Riyadh


    Saudi stocks had their longest weekly gain since September 2017 with six consecutive weeks to close at 9196 points, with gains of 108 points, 1.2 percent, which is the highest levels since July 2015.

    The market value rose by 21 billion riyals to 2.16 trillion riyals.

    The MT30 index rose 1.18 percent to 16 points.

    The market recovered after weakness in the previous week, which was the weakest performer in the current series of rises.

    The market activity came despite the absence of financial results or encouraging data other than the proximity of the market to the international indicators that may be the catalyst for the continuity of the series of rises for a long time.

    But the market showed in the last daily trading weakness in performance until the end of the week's session ended, after the market failed to exceed the resistance 9250 points.

    The continuation of this will push the market into a profit-taking wave or a horizontal direction.


    Overall market performance

    The general index opened at 9087 points, reaching a high of 9245 points, gaining 1.7 per cent. The lowest point was at 9042 points, losing 0.5 per cent.

    At the end of the week, it closed at 9196 points with gains of 108 points, 1.2 percent.

    Trading values rose 1.2 billion riyals by 8 per cent to 17 billion riyals.

     The average value of the deal is 31 thousand riyals.

    Traded shares rose 5 per cent by about 28 million shares to reach 632 million shares, with a turnover rate of 1.2 per cent.

    Deals fell 1 percent by about 6,000 to 541,000.


    Sector performance

    Nine sectors fell against the rise of the rest.

    The decline was led by "Media and entertainment" by 3 per cent, followed by "business and professional services" by 1.9 per cent and "Investment and Finance" by 1.9 per cent.

    The rise was led by "food segmentation" by 2.7 per cent, followed by "insurance" by 2.7 per cent and "fragmentation of luxury goods" by 2.5 per cent.

    The highest turnovers were "banks" by 28 per cent that valued at 4.7 billion riyals, followed by "basic materials" by 26 percent that valued of 4.3 billion riyals and then "insurance" by 10 per cent that valued of 1.7 billion riyals.


    Stock performance

    The rise was led by "Ta'awiya" by 8% to close at SAR 67.20, followed by "Al-waha" by 6.1 per cent to close at 43.95 riyals and "Care" by 6 per cent to close at 51.40 riyals.

    The declines were led by "Khodari" by 5.8 percent to close at 5.65 riyals, followed by "ACIG" by 5.3% to close at 20.14 riyals and then "Sera" by 4% to close at SAR 19.38.

    "SABIC" had the highest turnover of SR 1.9 billion, followed by "Al-Rajhi" that worth 1.8 billion riyals and "Alinma" by 1.3 billion riyals.


    * Economic Reports Unit​

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