• Saudi stocks is slightly higher .. Sales pressure that push the index to lose most of the gains



    * Ahmed Al-Rasheed from Riyadh


    Saudi stocks extended their gains for the second consecutive session to close at 8,658 points with five points and 0.07 percent.

    The performance of the "MT30" index was the best by rising 0.11 percent by about a point to close at 1282 points.

    The "basic materials" sector was the leader of the rise, led by "Tasnee", which is interacting with the sale of a Cristal plant in a deal that will enhance the chances of the acquisition of the "Titanium Dioxide" for the Crystal Company of "Tasnee".

    The performance of the index is consistent with the previous report where it was pointed out that the market seeks to reach levels of 8720 points and 8670 points resistance barriers was the highest point in the session at 8666 points.

    At the time, the market witnessed selling pressures that were lost most of the gains.

     It is important to exceed the resistance to reach the target levels at 8720 points, while the support at 8520 points.


    Overall market performance

    The general index opened at 8653 points, trading between high and low.

    The highest point was at 8666 points, 0.15 per cent.

    The lowest point was at 8630 points, losing 0.3 per cent.

     At the end of the session, the general index closed at 8,658 points with a five-point gain of 0.07 percent.

    Liquidity rose 1.2 percent by about SAR 44 million to reach SAR 3.7 billion, and the average transaction value was SAR 28,000.

    Traded shares increased by 11 percent by 18 million traded shares to reach 177 million traded shares, with a turnover rate of 0.32 percent.

     Deals rose 14 per cent by about 16,000 to reach 134,000 deals.


    Sector performance

    Ten sectors rose against the decline of the rest.

    The rise was led by "Capital goods" by 1.7 per cent, followed by "commercial and professional services" by 1 per cent, and "Investment & Finance" by 0.99%.

    The decline was led by "Consumer services" by 1.4 percent, followed by "luxury goods" by 1 per cent, and "management and development of real estate" by 0.87 per cent.

    The highest turnovers were "basic materials" of 25 per cent, followed by "banks" by 20 per cent at a value of 726 million riyals, and then "management and development of real estate" by 9 per cent of 340 million riyals.


    Stock performance

    The rise was led by "Khodari" that rose to a maximum of SAR 6.29, followed by "Amiantit" for the maximum to close at 6.76 riyals, and "Saudi Fisheries" by 4% to close at 66.10 riyals.

    On the other hand, the decline was led by "Bawan" by 3.7% to close at 14.16 riyals, followed by "Amanah Insurance" by 3.6 per cent to close at SAR 14.72, and "Care" by 3.6% to close at 13.88 riyals.

    The highest turnovers were "Al Rajhi" with a value of 353 million riyals by 9 per cent, followed by "SABIC" with a value of SR 215 million at 6 per cent, and then " Saudi Fisheries " at 5% with a value of 184 million riyals.


    * Economic Reports Unit​

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