• Saudi stocks fall for third session due to pressure from real estate sector

    12/02/2019

     

    * Ahmed Al-Rasheed from Riyadh

     

    Saudi stocks fell for a third consecutive session to close at 8,520 points, losing six points, or 0.07 percent under pressure from the real estate sector led by "Jabal Omar."

    The market value fell 0.44 percent to 696 million riyals to 2.01 trillion riyals.

    The MT30 index rose 0.1 percent to close at 1254 points to show that the performance of major traded companies was the best performance of the rest of the companies.

    Most companies have not yet to announce their financial results, which are an important factor in market action and negative oil movements.

    May have an impact on the morale of the dealers in light of the decline of data in the domestic market.

    The index will face support at 8460 points, while the resistance at 8540 points.

     

    Overall market performance

    The index opened the session yesterday at 8526 points trading between the rise and fall.

    The highest point was at 8568, 0.49 per cent.

    The lowest point was at 8506 points, 0.23 per cent.

    At the end of the session, the index closed at 8,520 points, losing six points, or 0.07 per cent.

    The liquidity rose by 7 percent by about 173 million riyals to reach 2.5 billion riyals, a rate of 26 thousand riyals.

    Traded stocks fell 1 percent by 1.2 million shares to reach 108 million shares with a turnover rate of 0.20 percent

    Transactions rose 6 percent by about 5.7 thousand to reach 98,000 transactions.

     

    Sector performance

    Seven sectors rose against the decline of the rest.

    The rise was led by "Food production" by 0.88 per cent, followed by "capital goods" by 0.34 percent, and "basic materials" by 0.3 per cent.

    The decline was led by "utilities" by 1.95 per cent, followed by "energy" by 1.16 percent, and "management and development of real estate" by 1.11 per cent.

    The highest turnovers were "Basic Materials" (31%) valued at SAR 794 million, followed by "banks" by 22 per cent with a value of 575 million riyals, and "insurance" by 7% with a value of 189 million riyals.

     

    Stock performance

    The decline was led by "Solidarity Saudi" 3.8% to close at SAR 16.22, followed by "Emaar" by 3.39 per cent to close at 9.12 riyals, and "The Red Sea" by 3% to close at 15.50 riyals.

    On the other hand, the rise was led by "Amiantit" by 5.11 percent to close at 7.61 riyals, followed by "SADAFCO" by 4.8 percent to close at 104.80 riyals, and "ACIG" by 3.13% to close at 23.10 riyals.

    "SABIC" had the highest turnover of SAR 321 millions of 13 per cent, followed by "Al-Rajhi" by 11 per cent with a value of 276 million riyals, and then "SSP" with a value of 148 million riyals.​

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