The Saudi market ignores the repetition rise and rise 1% in a week … optimism about the companies performance

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Saudi stocks rose 1 per cent in trading last week, equivalent to 79 points, to close at 7,312 points, while the “MT30” index, which measures the performance of leading companies, rose eight points, 0.8 per cent, to close at 1011 points.
It is expected that the market will maintain its stability, especially after the high order to extend government initiatives to support the private sector in the face of the implications of the effects of Corona, which reduces the financial burden on the private sector and helps enable it to manage cash flows.
The market continued to maintain the sideways path despite the high repetitions and the basic factors that are not encouraging, the end of the second quarter and the anticipation of the results of companies that are expected to achieve declines, which increases the repetitions of profitability to higher levels, but that did not pressure the market, which shows a state of optimism Towards corporate performance.
This situation may not continue if negative data appears, as the market reaction will be more severe due to the increase in prices. The market will face resistance at 7330 points, while support is at 7,240 points.

Overall market performance

The general index opened the week at 7232 points, as it achieved the lowest point at 7213 points, losing 0.25 per cent, while the highest point at 7328 points, gaining 1.33 per cent. At the end of the session, the general index closed at 7312 points, gaining 79 points, 1.1 percent. Trading values ​​rose 5 percent by about 1.2 billion riyals to reach 24.5 billion riyals, while traded shares rose 6 percent by about 78 million traded shares, to reach 1.3 billion traded shares, while deals rose 3 percent by about 32 thousand deals to reach 1.2 million Deal.

Sectors performance

Four sectors retreated against the rise in the rest, with the rise in health care leading 7.5 percent, followed by applications and technology services 5 percent, and real estate management and development 4 percent. The decline was led by “media and entertainment” 2.7 per cent, followed by “food segmentation” 1.7 per cent, and “public utilities” 0.9 per cent.
The highest turnover of “basic materials” was 24 percent, about 5.8 billion riyals, followed by “banks”, 17 percent, about 4.3 billion riyals, and thirdly, “insurance”, 11 percent, by about 2.6 billion riyals.

Stock performance

The rise was led by “glass” 16% to close at 16.80 riyals, followed by “Suleiman Al Habib” 13% to close at 82.50 riyals, and “Samba” came 12.5% ​​to close at 26.95 riyals.
The decline was led by “fish” 15 percent to close at 19.42 riyals, followed by “Ata” 6.5 percent to close at 37.50 riyals, and thirdly, “Al-Arabi”, 5.9 percent, to close at 18.82 riyals.
The highest turnover was “Al-Rajhi” with a value of 1.5 billion riyals, followed by “Aramco” with a value of 1.4 billion riyals, and thirdly, “Alinma” with a value of 792 million riyals.

Economic Reports Unit





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