The best weekly performance of Saudi stocks since May … rose 4.3%, through transactions of 59.2 billion riyals

0
61


Saudi stocks rose 4.3 percent during the week, recording their best weekly performance since May, to close at 8434 points, gaining 345 points, while the MT30 index, which measures the performance of the blue-chips, rose 42 points, or 3.8 percent.
The market performance improved at the weekend, driven by high sentiment due to the announcement of encouraging data about the Corona vaccine, as the positive performance was not limited to the local market at the time, but rather to global markets and energy, but the markets quickly returned to their normal trading, as they witnessed stability in recent sessions.
The positive market move proves upcoming developments that enhance the appetite for risk and purchasing liquidity, as the basic factors do not seem to support a further rise, given that prices have reached high levels. The market will face resistance at current levels up to 8600 points, as it is likely to be exposed to strong selling pressure in this region, as it is previous highs and as long as the market retreated from them within a year.Overall market performance

The general index opened the week at 8,089 points, trading between high and low. The lowest point was at 8,065 points, losing 0.3 per cent, while the highest point was at 8,510 points, gaining 5.2 per cent. At the end of the week, the index closed at 8,434 points, winning 345 points, or 4.3 percent.
Trading values ​​rose 70 percent by about 24 billion riyals to reach 59.2 billion riyals, while traded shares rose 49 percent by about 691 million shares to reach 2.1 billion shares, and deals rose 46 percent by about 761 thousand deals to reach 2.4 million deals.

Sectors performance

The “healthcare” sector declined by only 0.57 percent, against an increase in the rest. The rise was led by “media and entertainment” by 16 percent, followed by “applications and technology services” by 12 percent, and “investment and financing” by 11 percent.
The highest turnover was “basic materials” by 17 per cent with a value of 9.9 billion riyals, followed by “food production” 13 per cent with a value of 7.8 billion riyals, and “insurance” by 12 per cent with a value of 6.9 billion riyals.

Stock performance

The rise was led by “Anaam Holding” by 61 percent to close at 202.80 riyals, followed by “Wafra” 48 percent to close at 149 riyals, and the third by “exports” by 34 percent to close at 96.80 riyals. The decline was led by “Al-Mouwasat” by 4.6 percent to close at 128.40 riyals, followed by “Al-Othaim Markets” by 4.3 percent to close at 128 riyals, and the “Red Sea” by 2 percent to close at 21.80 riyals.
The highest turnover was “fish” with a value of 3.4 billion riyals, followed by “refineries” with a value of 2.9 billion riyals, and “Al-Rajhi” with a value of two billion riyals.

Economic Reports Unit





LEAVE A REPLY

Please enter your comment!
Please enter your name here