• Saudi stocpks recoup most of the loss and the week ended 35 points down


             Saudi stocks fell for the third week in a row to close at 6878 points, 35 points down 0.51%, but managed to control the losses during the week until they lost 2% of their value, but the return of purchasing power in the last two sessions of the week offset Most of the losses, in reference to the attention of the investment portfolios in the financial market at current prices, and if able to complete the purchasing wave to exceed the index barrier of 7000 points, will return risk appetite for the market will push them to higher levels.
    The market continues to enjoy positive factors supporting the rise. As the profitability of companies that achieved in the third quarter consolidated profits from the highest historically, and the extension of the financial balance that relieves pressure on the private sector through the gradual lifting of support, allowing companies to adapt to rising costs, The improvement in the general budget, where the deficit has declined as revenues increase, oil prices improve, and the possibility of the general index joining international indices in the coming year, these factors reinforce the market's rise, especially that the profit-taking at 14 times and the profitability of the banking sector 10, Market leadership in the wave height, due to the high returns it, which draws the portfolio at the end of the year to get cash distributions, note that the banks have a generous dividend during the year.
    Even the petrochemical sector, the other leading sector, has improved the prices of its products. A number of its influential private companies such as SABIC have achieved gains that exceeded analysts expectations, and as the price of its products continues to improve, it may continue to achieve positive results this quarter, there is still anticipation and its impact on the economy, but with the expected capital gains and the expected market, some traders will push the postponement of anticipation to the beginning of next year.

    Market performance

    The index opened its weekly session at 6913 points, fell in three sessions and rose in the rest. Was the lowest point at 6752 points, losing 2.3 percent and was unable to make weekly gains to close at 6,878 points, losing 35 points, or 0.51 percent.
    Trading values ​​dropped by 3 billion riyals by 22 percent to 12.9 billion riyals, and the average value of the deal was 33.3 thousand riyals.
    While traded shares dropped 279 million shares by 28 percent to 691 million traded shares, with a turnover of 1.3 per cent. Deals fell 15 per cent to 387,000.

    Sector performance

    Six sectors rose against the rest of the rest. The "luxury goods" segment rose 1.47%, followed by "long-term goods" (1.24%) and "information" (0.98%).
    The decline was "medicines" by 2.6 per cent, followed by investment and finance by 2.2 per cent and transport by 1.7 per cent.
    The highest drop was Banks with 28 percent, with a value of 3.5 billion riyals, followed by "basic materials" by 21 percent and 2.7 billion riyals.

    Stock performance

    The market traded 178 stocks, Makkah was up 26 percent to SAR 71.29, followed by Dar Al Arkan by 13 percent to SAR 8.27 and Nadec third by 10 percent to SAR 33.33.
    Jaco dropped 6 per cent to close at 11.20 riyals, followed by Jabal Omar by 6 percent and lujain by 6 percent to close at 18.67 riyals.
    Enma was the top performer with 14 percent trading at 1.9 billion riyals, followed by Dar Al Arkan with 11 percent trading at 1.5 billion riyals and SABIC third with 10 percent trading at 1.2 billion riyals.

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