01/08/2017
Saudi stocks has dropped for a sixth consecutive session to see the longest streak in a year. Where the longest series of declines lasted nine sessions and ended at the end of July last year. The decline under pressure from "banks", but SABIC was the largest compressor on the market. The
index closed at 7094 points, losing 21 points, or 0.3 percent. The
performance was in line with expectations, with the market falling to
7100-7050 points. As today session is expected to find support at this level.
Most of the companies reported their financial results, most
notably Maden, which achieved 2356 million in the second quarter,
higher than expected by about 5 percent, which could boost the
performance of the stock today and improve the general performance of
the market.
market performance
The
general index opened the session at 7115 points, did not record any
gains to move at the lowest point of the session at 7076 points, losing
0.55 percent, at the end of the session closed at 7094 points, losing 21
points, or 0.3 percent. Trading values rose 11 percent to 2.8 billion riyals, at a rate of 33,000 riyals per transaction. While traded shares rose 7 per cent to 110 million shares traded, and the turnover rate was 0.58 per cent. transactions roseup 14 percent to 84,000.
Sector performance
Eight sectors rose against the rest. Media roseup by 1.6 percent, followed by Food Fragmentation by 1.2 percent and Energy by 0.65 percent. Insurance was down 1.1 per cent, followed by Public Utilities by 0.7 percent and the Public Funds by 0.6 percent.
The highest drop was "Banks" with a value of SR 742 million
(27%), "Basic Materials" (20%) at SR 563 million and "Food Production"
(13%) at SR 346 million.
Stock performance
The market 174 stocks, 82 shares advanced against 86 shares and six stocks declined. Mabco
was the top performer at SAR15.72, followed by Shams by 9.9 percent to
SAR 31.54 and Eastern Development by 5 percent to SAR 50.76. On the other hand, Medgulf Insurance was down 7.8 percent at
SAR16.09, followed by Printing & Packaging by 5.6 percent to
SAR17.79 and Al Jawf third by 4.7 percent to SAR 27.61.
The highest drop was Al Enmaa with a value of 459 million
riyals at 17 per cent, followed by SABIC with a value of 379 million
riyals at 14 per cent and a third by al-Rajhi with a value of 203
million riyals at 7 per cent.
Economic Reporting Unit
