High trading in the “auction” pushes local stocks to the green zone

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Saudi stocks rose 11 points, by 0.1 percent, to close at 11,422 points, while the “MT30” index increased one point by 0.11 percent, to close at 1549 points. The market was losing five points before the auction session, which witnessed a high turnover of about three billion, bringing the market up 17 points and remaining in the green zone for the second session. The activity came as a result of changes in the FTSE-Russell index. The market is closer to its highest level since January 2008 at 11,458 points which is technically a resistance. The market did not show a performance that reflects the demand of active dealers during the session with the decline of most sectors and stocks, which makes the pause period for the weekend the focus of attention for new stimulating data, including oil price trades.
overall market performance
The general index opened yesterday’s session at 11409 points, and traded between high and low. The lowest was 11378 points, losing 0.29 percent, while the highest was at 11435 points, gaining 0.22 percent. At the end of the session, it closed at 11,422 points, gaining 11 points by 0.1 percent. Liquidity rose 48 percent by about 3.3 billion riyals to reach 10.2 billion riyals, while traded shares increased 26 percent by about 47 million shares to reach 224 million traded shares, while deals rose 6 percent by about 17,000 deals to reach 299 thousand deals.
Sector performance
Nine sectors rose against the decline of the rest. The rise was led by “public utilities” by 1.3 percent, followed by “capital goods” by 1.1 percent, and “food fragmentation” by 0.7 percent. While the decline was led by “media and entertainment” by 4.5 percent, followed by “medicines” by 1.4 percent, and “telecommunications” by 1.2 percent.
The highest turnover was “basic materials” by about 32 percent, with a value of 3.3 billion riyals, followed by “banks” by about 15 percent with a value of 1.5 billion riyals, and “communication” by about 10 percent, with a value of 968 million riyals.
stock performance
The highest rise was led by “Naseej” by 5.6 percent to close at 120.40 riyals, followed by “BCI” share by 4.6 percent to close at 44.60 riyals, and “SABIC Agricultural Nutrients” share by 4.3 percent to close at 146 riyals. On the other hand, the lowest shares were led by “Research and Media” by 4.8 percent to close at 160 riyals, followed by “Kingdom” share by 4.4 percent to close at 10.36 riyals, and “Bupa Arabia” share by 3.7 percent to close at 149.20 riyals.
The highest turnover was “SABIC” share with a value of 1.5 billion riyals, followed by “STC” share with a value of 803 million riyals, and “Al-Rajhi” share with a value of 399 million riyals.
Economic Reporting Unit
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Kicker
Overheated activity due to changes in the FTSE Russell Index





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