Saudi stocks fell yesterday, to close at 8,547 points, losing 13 points, by 0.15 percent. Meanwhile, the MT30 index, which measures the performance of the leading stocks, decreased by less than one point, to close at 1135 points. Market activity declined, as liquidity decreased by 130 million to reach 9.1 billion riyals, which is the lowest since last August. Yesterday’s trading showed a decline in speculative tendency, as a single company rose by the maximum percentage and liquidity was distributed to more sectors, unlike most previous sessions, where most of the liquidity was concentrated in two or three sectors. The market was only able to close above 8600 points levels for one session, and then it was subjected to selling pressures that kept the market below those levels, and the decline in market activity shows weakness in the upward trend and its continuation will negatively affect the risk appetite and dealers’ appetite, prompting them to prefer taking profits, and the return has become above 8600 levels. It requires the return of market activity with positive catalysts.
Overall market performance
The general index opened at 8,566 points, trading between high and low. The lowest point was at 0.35 per cent to reach 8,531 points, while the highest point was at 8,851 points, winning 0.24 per cent. At the end of the session, it closed at 8,547 points, losing 13 points, about 0.22 percent. Liquidity fell 1.4 percent by about 130 million riyals to reach 9.1 billion riyals. While the traded shares fell 9 percent by about 38 million shares to reach 377 million shares traded, and the deals fell 5 percent by about 19 thousand deals to reach 369 thousand deals.
Six sectors rose against the decline of the rest. The rise was led by “public utilities” by about 5.7 per cent, followed by “food production” by 1.2 per cent, and “applications and technology services” by about 1 per cent. The decline was led by “real estate traded funds” by 1.5 per cent, followed by “insurance” by 1.15 per cent, and by “consumer services” by 1.12 per cent.
The highest turnover was “basic materials” by about 16 per cent with a value of 1.4 billion riyals, followed by “banks” by about 10 per cent with a value of 891 million riyals, and the third solution for “insurance” by about 10 percent, a value of 885 million riyals.
The rising shares were led by “cables” by 9.96 per cent to close at 29.25 riyals, followed by “Anaam Holding” by 7 per cent to close at 393 riyals, and by “Misk” by 6.87 percent to close at 16.48 riyals. On the other hand, the decline was led by “Education REIT” by 6 per cent to close at 13.04 riyals, followed by “Chemanol” by about 5.9 per cent to close at 11.34 riyals, and by “Zain Saudi Arabia” by 4.8 per cent to close at 13.76 riyals.
The highest turnover was “Saudi Electricity” with a value of 434 million riyals, followed by “Saudi Cables” with a value of 396 million riyals, and the third solution was “Al-Enmaa” with a value of 259 million riyals.
Economic Reports Unit