Saudi stocks are hovering around 8,100 points … and small companies control most of the liquidity

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Saudi stocks rose for the second session, closing at their highest level in seven months at 8,089 points, winning 39 points by 0.49 per cent, while the MT30 index, which measures the performance of the blue-chips, increased by 0.33 per cent by about three points, to close at 1075 points.
The rise came amid a variation in the performance of sectors and stocks, and medium and small companies are still achieving better performance than the leaders and controlling liquidity, as the largest listed companies are absent from the list of the highest traded, which shows the dominance of speculation and the concentration of liquidity in smaller companies that are achieving high capital gains. in the last period. These speculative moves follow the increase in profitability, the decline in returns, the high uncertainty of the profitability of companies and the decline of investment alternatives, which prompted liquidity to search for opportunities for quick gains. The coming period will be more difficult for the market to achieve more gains after the index’s profits since last March exceeded 30 per cent, which dealers will seek to maintain when any data that affects the market’s path emerges.
On the technical side, the market is facing resistance at the current levels of 8080 points, exceeding it will enhance the market’s chances of reaching 8200 points, while support is at 7970 points. Oil prices witnessed a sharp decline during yesterday’s session, which may concern dealers.Overall market performance

The general index opened at 8,056 points, and headed towards the highest point in the session at 8,103 points, winning 0.67 percent. At the end of the session, the general index closed at 8,089 points, winning 39 points, about 0.49 percent. Liquidity increased 26 percent by about 2.9 billion riyals to reach nearly 14 billion riyals, at a rate of 27 thousand riyals per transaction, and traded shares increased 22 percent by about 95 million shares to reach 529 million shares traded, and deals rose 20 percent by about 86 thousand deals. To reach 507 thousand deals.

Sectors performance

Ten sectors rose against the decline of the rest. The rise was led by “real estate management and development” by about 2.8 per cent, followed by “capital goods” by 1.8 per cent, and “food production” by about 1.56 per cent. While the decline was led by “investment and financing” by about 1 per cent, followed by “applications and technology services” by 1 per cent, and by “food fragmentation” by 0.7 per cent.
The highest turnover was “basic materials” by about 19 per cent with a value of 2.6 billion riyals, followed by “food production” by about 15 per cent with a value of two billion riyals, and the third solution for “real estate management and development” by 9 per cent with a value of 1.3 billion riyals.

Stock performance

The rising shares led Al Kathiri by 9.96 per cent to close at 165.60 riyals, followed by “Eastern Development” by 9.95 per cent to close at 91.70 riyals, and “Electrical Industries” by 9.94 percent to close at 19.24 riyals. On the other hand, the decline was led by “Aseer” by 2.6 percent to close at 13.28 riyals, followed by “Chubb” by 2.4 percent to close at 26.55 riyals, and “Kingdom” by about 2.4 percent to close at 7.81 riyals.
The highest turnover was “fish” with a value of 654 million riyals, followed by “Jabal Omar” with a value of 566 million riyals, and “refineries” with a value of 460 million riyals.

Economic Reports Unit





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