Ahmed Al-Rasheed from Riyadh
Saudi stocks retreated to lose 22 points by 0.28 percent, and the MT30 index, which measures the performance of the leading stocks, fell 0.23 percent by about two points, to close at 1070 points. The decline came amid declines in most sectors and stocks. Market performance is consistent with the previous report, as it was indicated that the market will face resistance at 8,090 points to be exposed to selling pressure there, and in yesterday’s session the market reached 8,082 points and lost all gains to close down, and that negative performance shows a decline in risk appetite and the lack of sufficient strong purchasing power To maintain levels of 8000 points, which will increase dealers' anxiety about a downside wave that leads to selling operations to take profits and stop losing to 7770 points or extending to 7520 points in the short term.
Overall market performance
The general index opened at 8,037 points, trading between high and low. The highest point was at 8,082 points, winning 0.77 percent, while the lowest was at 7,998, losing 0.28 percent. At the end of the session, it closed at 7,998 points, losing 22 points, about 0.28 percent. Liquidity rose 6.4 percent by about 435 million riyals to reach 7.3 billion riyals, while traded shares fell 5 percent by 14 million shares to reach 291 million shares. Deals rose 6 percent by about 20,000 to reach 340,000 deals.
Seven sectors rose against the decline of the rest. The rise was led by “capital goods” by 2.3 percent, followed by “food fragmentation” by 0.54 percent, and “public utilities” by 0.54 percent. While the decline was led by "medicines" by about 2 percent, followed by "insurance" by about 2 percent, and by "commercial and professional services" by 1.3 percent.
The highest turnover was "basic materials" by about 16 percent with a value of 1.2 billion riyals, followed by "insurance" by 16 percent with a value of 1.1 billion riyals, and "capital goods" by about 12 percent with a value of 893 million riyals.
The "Al Kathiri" rising shares were topped by 9.97 percent to close at 86 riyals, followed by "Wafra" by 9.9 percent to close at 97.20 riyals, and "Anaam Holding" by 9.89 percent to close at 104.40 riyals. On the other hand, the decline was led by “Malath Insurance” by 6.4 percent to close at 16.70 riyals, followed by “Al-Rajhi Takaful” by 5.5 percent to close at 81.70 riyals, and by “Gulf Union” by 3.8 percent to close at 18.84 riyals.
The highest turnovers were "Saudi Cables" with a value of 481 million riyals, followed by "Al-Samak" with a value of 356 million riyals, and "abundance" with a value of 288 million riyals.
Economic Reports Unit