Saudi stocks rose again, to compensate for what they lost in the previous session, to end the session at 8,680 points, gaining 141 points, about 1.66 percent, registering the best daily performance since the beginning of the previous month. While the MT30 index, which measures the performance of the blue chips, increased 14 points by about 1.2 percent. The rise was almost collectively for sectors and stocks, but with less liquidity than the previous session. The speculative tendency became active with the top ten shares of small and medium-sized companies rising, and the major stocks underperforming the market. The market is still trading within one range for about a month, and unless it exits and achieves higher levels, the market will remain under threat of selling pressures.
Overall market performance
The general index opened at 8,527 points, trading between high and low. The lowest point was at 8,527 points, losing 0.13 percent, while the highest was at 8,680 points, winning 1.6 percent. At the end of the session, it closed at 8,680 points, winning 141 points, or 1.6 percent. Liquidity declined 21 percent by about 2.8 billion riyals to reach 11 billion riyals, while traded shares fell 28 percent by 133 million shares to reach 349 million traded shares, and deals fell 31 percent by 180,000 deals to reach 410,000 deals.
All sectors, except for “food retail,” rose by 0.09 percent, and the rise was led by “long-term goods” by 5.4 percent, followed by “capital goods” by 5.3 percent, and “applications and technology services” by 5.2 percent.
The highest turnover was "basic materials" by about 19 percent with a value of 2.1 billion riyals, followed by "insurance" by 16 percent with a value of 1.7 billion riyals, and "capital goods" by about 9 percent with a value of 996 million riyals.
The rising shares were led by Al-Hokair Group by about 10 percent to close at 22.22 riyals, followed by “Anaam Holding” by about 10 percent to close at 97.90 riyals, and the third by “Saudi Return” by about 10 percent to close at 14.96 riyals. In contrast, the decline was led by "Al-Othaim Markets" by 1.3 percent, to close at 124 riyals, and by SADAFCO by 0.23 percent, to close at 174.60 riyals.
The highest turnover was "refineries" with a value of 562 million riyals, followed by "Anaam Holding" with a value of 448 million riyals, and "Baazeem" with a value of 441 million riyals.
Economic Reports Unit