• Selling in the last minute causing Saudi stocks to lose 41 points


               Saudi shares failed to trade in the green zone in yesterday's session, showing the dominance of sales that lost the index of 41 points, to close the general index at 6872 points, down 0.6 percent. The market witnessed failed attempts to enter the Green Zone to enter the green zone. However, selling waves have prevented the market from rising especially in the last minutes as the decline of the shares of Jabal Omar and some shares of banks, which destroyed the purchasing power that was always active in the last minute and selectivity In the selection of shares that are usually influential in the general index.
    The general budget for the third quarter showed positive figures, with improved revenues and a decrease in the deficit, which shows the impact of the improvement in oil prices which is still in about three quarters of revenues. The improvement in oil prices comes in response to market intervention through OPEC and non- Saudi Arabia has made a significant contribution to the success of the resolution, which could be extended after the end of March. This will boost the positive outlook of the general budget as oil prices improve as the supply surplus recedes.

    Market performance

    The index opened at 6913 points, did not make any gains to the lowest point in the session at 6859 points, losing 0.78 percent, at the end of the session, instead of part of the losses to close at 6872 points, losing 41 points, or 0.6 percent. Liquidity declined 604 million riyals by 19 percent to 2.5 billion riyals, and the average transaction value was 32.8 thousand riyals. While traded shares fell 28 per cent to 146 million shares traded, and the drop of free shares was 0.77 percent. Deals fell 14 percent to 77,000.

    Sector performance

    All sectors except Food Retail dropped by 0.64 percent, followed by Pharmaceuticals by 0.35 percent. Media dropped 4.2 percent, followed by consumer services at 2.9 percent and property management and development at 2.4 percent.
    The highest drop was "Banks" with a value of SR 768 million (30%), "Basic Materials" (SR 506 million) and "Real Estate Management and Development" (19%) amounting to SR 480 million.
    Stock performance

    The market traded 174 stocks, 42 shares rose against 133 shares and stability of the rest. The highest increase was "exports" for the maximum closing at SAR 15.10, followed by Nadec by 6% to close at 32.06 SR, and the third "Arab Insurance" by 5.9% to close at 17.95 riyals, Lujain was down 6.7 percent to close at 18.49 riyals, followed by Al Hukair by 5.4 percent to close at 27.39 riyals and Al Tayyar third by 4.9 percent to close at 22.95 riyals. The largest was Dar Al Arkan with a value of SAR 387 million, followed by Al Rajhi by SR 326 millions.

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