Saudi stocks regain 8,400 points despite sharp fluctuations ... and the highest liquidity in two months
Saudi stocks rose for the fifth session, closing at 8,405 points, winning 38 points by about 0.46 percent, to achieve the longest daily streak in three months, while the MT30 index, which measures the performance of the leading stocks, increased three points, to close at 1126 points, about 0.32 percent. The market witnessed fluctuation in performance, as it recorded a peak of 1.7% of its gains, while losses during the session reached 0.48%, with the highest trading in two months. The market response was quick to the global market jump and optimistic energy near the emergence of a vaccine, but it is too early to judge the approaching return of conditions as they were before the pandemic.
On the technical side, the market did not perform well, especially with sharp fluctuations and closing with a slight difference compared to the extent of its movement, as the current levels, up to 8600 points, are a resistance area that has faced strong selling pressure since the beginning of this year, while the support is at 8220 points.
Performance of the general index
The general index opened at 8,437 points, trading between high and low. The highest point was at 8,510 points, winning 1.7 percent, while the lowest point was at 8,326 points, losing 0.48 percent. At the end of the session, the index closed at 8,405 points, about 0.46 percent, gaining 38 points. Liquidity increased by 44 percent by about 5.2 billion riyals, to reach 17 billion riyals, while traded shares increased 38 percent by about 167 million shares, to reach 608 million shares traded, and deals rose 33 percent by about 158 thousand deals, to reach 645 A deal.
Seven sectors retreated against the rise of the rest. The decline was led by “retail luxury goods” by 1.6 percent, followed by “telecommunications” by 1.5 percent, and “food production” by 0.9 percent. While the rise was led by “consumer services” by 4.5 percent, followed by “applications and technology services” by 3.2 percent, and by “transportation” by about 2.5 percent.
The highest turnover was "basic materials" by about 17 percent with a value of 2.9 billion riyals, followed by "food production" by about 13 percent with a value of 2.2 billion riyals, and the third solution for "insurance" by about 13 percent with a value of 2.1 billion riyals.
The rising shares were led by Al-Hokair Group by 9.99 percent, to close at 14.98 riyals, followed by “Amana Insurance” by 9.97 percent, to close at 34.20 riyals, and by “Anaam Holding” by 9.96 percent, to close at 167.80 riyals. On the other hand, the decline was led by "Al-Jawf" by 4.5 percent, to close at 38.45 riyals, followed by "Eastern Development" by 2.8 percent, to close at 82.30 riyals, and the third by "Jarir" by 2.5 percent, to close at 181.40 riyals.
The highest turnover was "fish" with a value of one billion riyals, followed by the refineries, with a value of 811 million riyals, and "Al-Rajhi" with a value of 598 million riyals.
Economic Reports Unit