25/11/2017
Saudi
stocks fell for the third week in a row to close at 6878 points, 35
points down 0.51%, but managed to control the losses during the week
until they lost 2% of their value, but the return of purchasing power in
the last two sessions of the week offset Most of the losses, in reference to the attention of the investment
portfolios in the financial market at current prices, and if able to
complete the purchasing wave to exceed the index barrier of 7000 points,
will return risk appetite for the market will push them to higher
levels.
The
market continues to enjoy positive factors supporting the rise. As the
profitability of companies that achieved in the third quarter
consolidated profits from the highest historically, and the extension of
the financial balance that relieves pressure on the private sector
through the gradual lifting of support, allowing companies to adapt to
rising costs, The
improvement in the general budget, where the deficit has declined as
revenues increase, oil prices improve, and the possibility of the
general index joining international indices in the coming year, these
factors reinforce the market's rise, especially that the profit-taking
at 14 times and the profitability of the banking sector 10, Market leadership in the wave height, due to the high returns it,
which draws the portfolio at the end of the year to get cash
distributions, note that the banks have a generous dividend during the
year.
Even the petrochemical sector, the other leading sector, has improved
the prices of its products. A number of its influential private
companies such as SABIC have achieved gains that exceeded analysts expectations, and as the price of its products continues to improve, it
may continue to achieve positive results this quarter, there is still anticipation and its impact
on the economy, but with the expected capital gains and the expected
market, some traders will push the postponement of anticipation to the
beginning of next year.
Market performance
The index opened its weekly session at 6913 points, fell in three sessions and rose in the rest. Was the lowest point at 6752 points, losing 2.3 percent and was
unable to make weekly gains to close at 6,878 points, losing 35 points,
or 0.51 percent.
Trading values dropped by 3 billion riyals by 22 percent to 12.9
billion riyals, and the average value of the deal was 33.3 thousand
riyals.
While traded shares dropped 279 million shares by 28 percent to 691 million traded shares, with a turnover of 1.3 per cent. Deals fell 15 per cent to 387,000.
Sector performance
Six sectors rose against the rest of the rest. The "luxury goods"
segment rose 1.47%, followed by "long-term goods" (1.24%) and
"information" (0.98%).
The decline was "medicines" by 2.6 per cent, followed by investment and finance by 2.2 per cent and transport by 1.7 per cent.
The highest drop was Banks with 28 percent, with a value of 3.5
billion riyals, followed by "basic materials" by 21 percent and 2.7
billion riyals.
Stock performance
The market traded 178 stocks, Makkah was up 26 percent to SAR 71.29,
followed by Dar Al Arkan by 13 percent to SAR 8.27 and Nadec third by
10 percent to SAR 33.33.
Jaco dropped 6 per cent to close at 11.20 riyals, followed by Jabal
Omar by 6 percent and lujain by 6 percent to close at 18.67 riyals.
Enma was the top performer with 14 percent trading at 1.9 billion
riyals, followed by Dar Al Arkan with 11 percent trading at 1.5 billion
riyals and SABIC third with 10 percent trading at 1.2 billion riyals.
