• Saudi stocks settle at 8,853 points amid mixed performance of the leading sectors


    * Ahmed Al-Rasheed from Riyadh


    Saudi stocks stabilized to close at 8583 points with gains of only two points.

    This came in contrast to the performance of the leading sectors where "banks" were pressing on the market but met with the rise of "basic materials".

    The market remains below its highest level since August 2015.

    The market showed uncertainty in trading, where traded in the green and red areas and the closure was a slight difference, making it difficult to read the direction of the market.

    The levels are 8660 resistance points while the support at 8460 points.

     Most of the results have yet to be seen, but so far, the combined earnings of 27 companies have grown by 7 percent to 15 billion riyals.

    More than 150 companies remain to be announced.

    The results will play a key role in market movements as well as developments in monetary policy and oil price movements and foreign trade data in the domestic market in anticipation of the actual accession of international indices.


    Overall market performance

    The index opened at 8581 points, trading between high and low.

    The highest point was at 8604 points, 0.26 per cent.

     While the lowest point was at 8556 points, losing 0.29%.

     At the end of the session, the general index closed at 8583 points, gaining two points with a slight change.

    Liquidity declined 12 percent by about 462 million riyals to reach 3.2 billion riyals, at a rate of 17 thousand riyals.

    While the traded shares remained unchanged at 152 million shares.

    The turnover rate was 0.28 per cent.

    The deals fell 12 per cent by 16,000 to reach 119,000 deals.


    Sector performance

    Seven sectors retreated against the rise of the rest.

    The decline was led by "banks" by 0.75 per cent, followed by "food fragmentation" by 0.53 per cent and "transportation" by 0.45 per cent.

    While the rise was led by "utilities" by 2.4%, followed by "food production" by 1.8 per cent and "capital goods" by 1.3 per cent.

    The highest turnovers were "Basic Materials" by 27 per cent with a value of SAR 894 million, followed by "banks" by 20 per cent with a value of 644 million riyals and "Insurance" by 9 per cent with a value of 302 million riyals.


    Stock performance

    The rise was led by "Emaar" by 8.4% to close at SAR 9.50, followed by "Amanah Insurance" by 5.7 per cent to close at SAR 20.06 and "Savola Group" by 5.4 per cent to close at SAR 33.

    On the other hand, the decline was led by "SSP" by 2.9% to close at 24.02 riyals, followed by "Al-Bilad" by 2.4 per cent to close at 30 riyals, and "Southern Cement" by 2.2% to close at 43 riyals.



    "SABIC" had the highest turnover of SAR 312 million at 10 per cent, followed by "Alinma" with a value of 247 million riyals by 8 per cent and "Al Rajhi" by 6% with a value of SR 187 million.


    * Economic Reports Unit

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