Saudi stocks … speculation on small companies and liquidity at 9.4 billion riyals

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Saudi stocks rose again to close at 7955, winning 16 points, by 0.21 per cent, while the MT30 index, which measures the performance of the blue-chips, increased by two points by 0.19 per cent, which shows the superiority of medium and small stocks over the performance of the blue-chips, especially with the activity Liquidity in these companies and speculation, as medium and small companies topped the list of the most traded, among them losing companies, and all the leading companies were absent from the list of the most traded, which shows the increase in speculation activity and the focus on achieving profits from capital gains, which makes the sustainability of the rise not possible. The preference of dealers in those companies to make profits without waiting for cash dividends and the growth of the market value with the value of the company. Despite the rise, the market did not record higher levels than the previous session, as the market faces resistance at current levels, while support is at 7900 points and trading below it will intensify the decline.
Overall market performance
The general index opened at 7,910 points, trading between high and low. The highest point was at 7955 points, winning 0.2 per cent, while the lowest point was at 7908 points, losing 0.38 per cent. At the end of the session, the general index closed at 7,955 points, winning 16 points, about 0.21 percent. Liquidity rose 5 percent by about 469 million riyals to reach 9.4 billion riyals, at a rate of 26 thousand riyals per transaction. While traded shares decreased 1 percent by about 5.3 million shares, to reach 388 million shares, with a turnover rate of 0.69 percent. As for the deals, they fell 2 per cent by about 7,000 deals, to reach 361,000 deals.
Sectors performance
Eight sectors retreated against the height of the rest. The decline was led by “food segmentation” by 0.99 per cent, followed by “commercial and professional services” by 0.65 per cent, and “health care” by 0.61 per cent. While the rise was led by “media and entertainment” by about 5.5 per cent, followed by “long-term goods” by 2.3 per cent, and by “investment and finance” by about 2.2 per cent.
The highest turnover was “basic materials” by about 20 per cent with a value of 1.9 billion riyals, followed by “food production” by about 13 per cent with a value of 1.2 billion riyals, and “insurance” by about 10 per cent with a value of 954 million riyals.
Stock performance
The rising shares were led by “tubes” in the maximum percentage to close at 15.40 riyals, followed by “Al-Baha” by 9.97 per cent to close at 24.26 riyals, and by “Jaco” by 9.94 per cent to close at 18.14 riyals. On the other hand, the decline was led by “Al-Bilad” by about 3.3 percent to close at 24 riyals, followed by “Saudi Cement” by 2.5 percent to close at 54 riyals, and the third solution by “care” by 1.9 percent to close at 50.50 riyals.
The highest turnover was “Bupa Arabia” with a value of 511 million riyals, followed by “refineries” with a value of 456 million riyals, and “al-fish” with a value of 443 million riyals.Economic Reports Unit

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