Wednesday , May 25 2022

Saudi stocks return to profitability such as "real estate development" facing pressure from leading sectors


16 11 2018

Saudi shares returned yesterday to close at 7662 points, just up two points, with liquidity diving 18 per cent to less than 3 billion. The rise after the success of the real estate development sector led by "Jabal Omar" in the face of the decline of the two largest sectors in the market, "basic materials" and "banks."

The downtrend line has been a positive signal but needs to be strengthened by better market-led performance to levels above their lost averages during the week, or at least 7700 pips ago. Increasing oil prices appear to have been involved in relieving pressure on the market, especially after its recent decline.

Overall market performance

The general index was opened at 7659 points, trading between high and low. The highest point was 7684 points, or 0.33 per cent, while the lowest point at 7628 points was 0.41 per cent.

At the end of the session, the index ended at 7662 points, up 0.03 points. Liquidity rejected 18 per cent to SR634 million to SR2.9 billion, 26,000 marriages increase.

Although trading shares dropped by 15 per cent by 23 million shares to 128 million traded shares, and the turnover rate was 0.24 per cent. Classes fell by around 8 per cent to 114,000 dealings.

Performance of the sector

Ten sectors rose against the remainder. "Food segmentation" was the best performer, then "property management and development" by 0.96 percent and "long-term goods" by 0.9 per cent.

Although "Capital Goods" rose by 1.3%, followed by "Investment and Finance" of 0.8%, and "Media and Entertainment" by 0.8%.

The highest turnover was "Basic Materials" by 29 per cent in SAR 856 million, followed by "Banks" from 26 per cent to SR 768 million and "Insurance" of 6 per cent with SR 184 million.

Stock performance

Jaco increased by 6.6 per cent to SAR 10.70, followed by Al-Jouf Agricultural by 4.4 per cent to SAR 22.34. Tabuk Agricultural ended third with 3.98 percent to SAR 10.18.

On the other hand, the decline of "exports" for the maximum closure in 134 marriages, followed by "SAFCO" by 4.3% to close at 76.50 bribes, and the third "Switorp Wall Rit "from 4 per cent to close at 8.60 weddings.

SABIC was the highest turnover of SAR 411 million, 14 percent, and Al-Enma from 13 per cent to SAR 370 million, and Al Rajhi of 7 per cent with SAR 205 million.

© 2018

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