07/06/2017
Saudi
stocks fell by 0.5%, unable to exit the low trend which began in
April, when the market reached the upper limit of the descending
channel in the yesterday session, and the market had an opportunity to
penetrate the descending channel and the trend to exceed 7000 points,
but it lost with most sectors and stocks lead by SABIC.
In
today's trading the market will confirm its direction either by
breaking the descending channel and reaching levels above 7000 points or
retreating and entering another bearish wave that may end at 6600
points. The decline in oil prices in yesterday's session did not help the positive move of the stock market. The market is left with a proactive movement of investors for the
second quarter results, which are trading at the end after the end of
the month, companies will start announcing their financial results, in
addition to the beginning of the quarterly and quarterly cash dividend
season.
Market performance
The
general index opened at 6964 points, and the session between the high
and low, the highest point at 6978 points, gaining 0.2%, while the
lowest point at 6925 points, losing 0.57%. At the end of the session,
the index closed at 6933 points, losing 31 points, or 0.45 percent. Trading values dropped 10 percent to 3.5 billion rials at a rate of 56.5 thousand riyals per transaction. While traded shares fell 10 per cent to 250 million shares with a rate of 1.32 percent. The transactions were settled at 62 thousand tranactions.
Sector performance
All
sectors except Food Production declined by 0.99 per cent, followed by
Health Care by 0.68 per cent and Medicines by 0.28 per cent, retracted "Media" (2.6%), followed by "Real Estate Funds" (2.2%), and "Retail Goods" (1%).
Real estate management and development was 31 percent higher at
SR1 billion, followed by banks with SR767 million at 22 percent and
core commodities at 21 per cent at SR735 million.
Stock performance
The market traded 174 stocks, down 75% against the rest and the stability of four stocks. Albaha rose up 4.3% to end at SAR 28.37, followed by Alandalus by 4.2% to SAR 24.02 and Al Hammadi by 3.27% to SAR 40.73. On the other hand, the retract of "Education Reit" by 9.7% to
closing at 14.52 riyals, followed by "Alasmak" by 4.1% to close at 27.58
riyals, and third, "Al Jazeera Riet" by 3.74% to close at 18.27 riyals.
Dar
Alarkan was the higher with 28 percent of SR 992 million,
followed by SABIC with SAR602 million at 17 percent, and Alenma third
with SAR 471 million, 13 percent.
