Saudi stocks rose 24 points, by 0.23 percent, to close at 10855 points, while the “MT30” index, which measures the performance of the leading shares, increased 1.5 points by 0.11 percent, to close at 1452 points. The rise was not accompanied by a higher activity in the market, as liquidity fell to the lowest level in almost two weeks, reaching 8.8 billion riyals, below the monthly average by about 23 percent. In the previous report, it was indicated that the market will face resistance at 10860 points, and during trading, the market reached 10870 points, and at closing it came five points below the resistance. Unless the market exceeds the resistance, selling pressures will remain threatening the market path, especially with poor liquidity, while the support is at 10765 points.overall market performance
The general index opened yesterday’s session at 10848 points, and traded between high and low. The highest point was at 10870 points, with gains of 0.36%, while the lowest was at 10811 points, losing 0.2%. At the end of the session, the general index closed at 10855 points, gaining 24 points by 0.23 percent. Liquidity decreased by 28 percent by about 3.4 billion riyals to reach 8.8 billion riyals, while the traded shares fell 29 percent by about 107 million shares to reach 264 million traded shares, while the deals fell 29 percent by about 133 thousand deals to reach 332,000 deals.
Nine sectors fell against the rise of the rest. The decline was led by “applications and technical services” by 1.2 per cent, followed by “media and entertainment” by 1 per cent, and “communication” by 0.8 per cent. While the rise was led by “investment and finance” by 1.8 percent, followed by “medicines” by 1.3 percent, and “luxury goods retail” by 1.2 percent.
The highest turnover was “insurance” by 24 percent, with a value of two billion riyals, followed by “basic materials” by 15 percent, with a value of 1.3 billion riyals, and “investment and financing” by about 9 percent, with a value of 807 million riyals.
The rise was led by “Zamil Industrial” for the maximum to close at 33.55 riyals, followed by “Saudi Replay” by 7.4 per cent to close at 17.96 riyals, and “advanced” by 5.2 per cent to close at 56.70 riyals. On the other hand, the decline was led by “Al-Yamamah Steel” by 2 percent to close at 47.10 riyals, followed by “Arab Sea” by 2 percent to close at 104.20 riyals, and “Arabia Insurance” by 2 percent to close at 31.15 riyals.
The highest turnover was “Advanced” with a value of 768 million riyals, followed by “Math Insurance” with a value of 503 million riyals, and “Saudi Replay” with a value of 309 million riyals.
Economic Reporting Unit