Saudi stocks regained their highest levels since October 2014 to close at 10,719 points, up 34 points by 0.32 percent. While the “MT30” index increased two points by 0.15 percent. A number of companies are still recording a maximum increase of about four companies, to continue the speculative tendency in the market despite the decrease in liquidity by 0.3 percent, but risk appetite appears to be high. With the index reaching new levels for this year and the decline in liquidity and the continuation of the speculative tendency, it is expected to increase the intensity of volatility in the coming sessions, and it will face resistance at 10800 points, while support is at 10680 points.The general performance of the market
The general index opened at 10,689 points, and achieved the highest point at 10,719 points, gaining 0.32 percent. At the end of the session, the general index closed at 10,719 points, gaining 34 points, about 0.3 percent. Liquidity decreased by 0.3 percent by about 49 million riyals to reach 14.9 billion riyals, while the traded shares decreased by 5 percent by 23 million shares to reach 418 million traded shares, while the deals were almost settled at 554,000 deals.
Five sectors fell against the rise of the rest. The decline was led by “communications” by 0.5 percent, followed by “investment and financing” by 0.25 percent, and “long-term goods” by 0.2 percent. While the rise was led by “media and entertainment” by 5.5 percent, followed by “capital goods” by 3.6 percent, and “applications and technical services” by 2.7 percent.
The highest turnover was “basic materials” by about 17 percent, with a turnover of 2.6 billion riyals, followed by “food production” by about 10 percent, with a value of 1.5 billion riyals, and “capital goods” by about 10 percent, with a value of 1.4 billion riyals.
The rising shares were led by “Astra Industrial” by 9.9 percent to close at 45.75 riyals, followed by “Al-Yamamah Steel” by 9.9 percent to close at 46.45 riyals, and “Gebsco” by 9.9 percent to close at 45.90 riyals. On the other hand, the decline was led by “L’azurde” by 4 percent to close at 22.90 riyals, followed by “Tabuk Agricultural” by 3.9 percent to close at 42.30 riyals, and “Arab Shield” by 3.3 percent to close at 34.15 riyals.
The highest turnover was “Refineries” with a value of 675 million riyals, followed by “Abdul Latif” with a value of 642 million riyals, and “developed” with a value of 632 million riyals.
Economic Reporting Unit