20/11/2017
Saudi
shares failed to trade in the green zone in yesterday's session,
showing the dominance of sales that lost the index of 41 points, to
close the general index at 6872 points, down 0.6 percent. The
market witnessed failed attempts to enter the Green Zone to enter the
green zone. However, selling waves have prevented the market from rising
especially in the last minutes as the decline of the shares of Jabal
Omar and some shares of banks, which destroyed the purchasing power
that was always active in the last minute and selectivity In the selection of shares that are usually influential in the general index.
The
general budget for the third quarter showed positive figures, with
improved revenues and a decrease in the deficit, which shows the impact
of the improvement in oil prices which is still in about three quarters
of revenues. The improvement in oil prices comes in response to market
intervention through OPEC and non- Saudi Arabia has made a significant contribution to the success of the
resolution, which could be extended after the end of March. This will
boost the positive outlook of the general budget as oil prices improve
as the supply surplus recedes.
Market performance
The
index opened at 6913 points, did not make any gains to the
lowest point in the session at 6859 points, losing 0.78 percent, at the
end of the session, instead of part of the losses to close at 6872
points, losing 41 points, or 0.6 percent. Liquidity
declined 604 million riyals by 19 percent to 2.5 billion riyals, and
the average transaction value was 32.8 thousand riyals. While traded shares fell 28 per cent to 146 million shares traded, and the drop of free shares was 0.77 percent. Deals fell 14 percent to 77,000.
Sector performance
All sectors except Food Retail dropped by 0.64 percent, followed by Pharmaceuticals by 0.35 percent. Media dropped 4.2 percent, followed by consumer services at 2.9 percent and property management and development at 2.4 percent.
The highest drop was "Banks" with a value of SR 768 million (30%),
"Basic Materials" (SR 506 million) and "Real Estate Management and
Development" (19%) amounting to SR 480 million.
Stock performance
The market traded 174 stocks, 42 shares rose against 133 shares and stability of the rest. The
highest increase was "exports" for the maximum closing at SAR 15.10,
followed by Nadec by 6% to close at 32.06 SR, and the third "Arab
Insurance" by 5.9% to close at 17.95 riyals, Lujain was down 6.7 percent to close at 18.49
riyals, followed by Al Hukair by 5.4 percent to close at 27.39 riyals
and Al Tayyar third by 4.9 percent to close at 22.95 riyals. The largest was Dar Al Arkan with a value of SAR 387 million, followed
by Al Rajhi by SR 326 millions.
