Saudi stocks decline for the third session due to selling pressure … and the index is consolidating at 10300 points


Saudi stocks fell for the third session to close at 10309 points, losing 56 points by about 0.54 per cent, while the MT30 index, which measures the performance of the leading stocks, fell 11 points by about 0.78 per cent. The decline came under pressure from most sectors and stocks. The market did not show improvement in performance, as the closure came at the lowest level, which shows the control of sales in the market, and this strengthens the continuity of the decline unless there are variables that push dealers to buy. Technically, the market will face support at 10126 points, while resistance is at 10500 points.

Overall market performance

The general index opened yesterday’s session at 10381 points, trading between high and low. The highest point was at 10386 points, winning 0.2 percent, while the lowest was at 10309 points, losing 0.5 percent. At the end of the session, the index closed at 10309 points, losing 56 points by about 0.54 per cent, and liquidity decreased 6 per cent by about 492 million riyals to reach 7.8 billion riyals, while traded shares decreased 16 per cent by about 51 million shares to reach 270 million shares. It fell 1 per cent by about 4.5 thousand deals to reach 337 thousand deals.

Sectors performance

Eight sectors rose against the decline of the rest. The rise was led by “applications and technical services” by about 6.5 per cent, followed by “long-term goods” by 0.88 per cent, and by “food production” by about 0.7 per cent. While the decline was led by “medicines” by 2.5 per cent, followed by “basic materials” by 1 per cent, and by “transportation” by 0.9 per cent.
The highest turnover was “basic materials” by about 17 per cent with a value of 1.3 billion riyals, followed by “management and development of real estate” by about 12 per cent with a value of 937 million riyals, and the third solution for “banks” by about 10 per cent with a value of 758 million riyals.

Stock performance

The “Al-Fakharia” rose by 9.9 percent to close at 97.70 riyals, followed by “Baazeem” by 9.8 percent to close at 100.40 riyals, and the Arab Sea came third by 6.9 percent to close at 98.50 riyals. On the other hand, the decline was led by “Wala” by 5.2 per cent to close at 22.38 riyals, followed by “SEDCO Capital REIT” by 3.4 per cent to close at 9.85 riyals, and by “Sipchem” by about 3.3 per cent to close at 26.35 riyals. The highest turnover was “Seera” with a value of 435 million riyals, followed by “Dar Al-Arkan” with a value of 419 million riyals, and “Al-Rajhi” with a value of 264 million riyals.

Economic Reports Unit


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