A slight rise in Saudi stocks in weak trading … and liquidity is at the lowest level since August

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Saudi stocks rose slightly to close at 8,560 points, up only seven points, while the MT30 index, which measures the performance of the leading stocks, declined one point to close at 1135 points. The weak performance comes with the decline in liquidity, which recorded its lowest level since last August, with transactions amounting to 9.2 billion riyals. However, the weak performance did not affect the speculative tendency in the market, as a number of companies are still recording gains close to the upper limit. The decline in activity came after the market stabilized below 8,600 points and the index was unable to exceed it. Some dealers preferred to anticipate the results of companies and incentives that push the market to higher levels that justify the rise in prices. The continuation of the market without achieving new higher levels will stop the chain of capital gains for its dealers, which may push them to sell to reap profits.Overall market performance
The general index opened at 8,564 points, and achieved the lowest point at 8,546 points, with slight losses, while the highest point was at 8,598 points, winning 0.5 percent. At the end of the session, the general index closed at 8,560 points, winning seven points by 0.08 per cent. Liquidity declined 19 percent by about 2.3 billion riyals to reach 9.2 billion riyals, while traded shares fell 22 percent by about 117 million shares to reach 415 million shares traded, and deals fell 18 percent by about 84,000 deals to reach 389,000 deals.

Sectors performance
Seven sectors retreated against the rise of the rest. The decline was led by “media and entertainment” by 0.89 per cent, followed by “communications” by 0.87 per cent, and by “capital goods” by 0.59 per cent. While the rise was led by “applications and technology services” by 6.7 per cent, followed by “food production” by 2.2 per cent, and by “real estate traded funds” by 2.2 per cent.
The highest turnover was “basic materials” by about 18 per cent with a value of 1.7 billion riyals, followed by “management and development of real estate” by about 13 per cent with a value of 1.1 billion riyals, and the third solution for “insurance” by 12 per cent with a value of 1.1 billion riyals.

Stock performance
The rising shares were led by “Al-Jazirah REIT” by 9.75 per cent to close at 24.98 riyals, followed by “Education REIT” by 9.3 per cent to close at 13.88 riyals, and the third by “Arab Sea” by 8.59 per cent to close at 79.60 riyals. On the other hand, the decline was led by “Zain Saudi Arabia” by 4.8 per cent to close at 14.46 riyals, followed by “Chemanol” by 3.4 per cent to close at 12.06 riyals, and by “SAPTCO” by 2.7 per cent to close at 18 riyals.
The highest turnover was “Dar Al Arkan” with a value of 448 million riyals, followed by “Almarai” with a value of 314 million riyals, and “Emaar” with a value of 273 million riyals.

Economic Reports Unit

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