Saudi shares recovered "green" in yesterday's trading supported by the leaders to close at 7425 points, winning 98 points, 1.3 percent. The rise came mainly from the banking and basic materials sectors. The rebound came from the 50-day average, which constitutes support for the index. However, the chances of a return to decline remain as long as the market traded below 7500 points in light of the liquidity weakness. Only 3 percent of the session yesterday (barely three billion riyals) showed continued reluctance of some dealers on the market, after it was recorded four billion riyals earlier. The market is still waiting for unfinished financial results and will be a key driver for the market in the coming period.
Overall market performance
The general index opened at 7327 points, did not make losses. It reaches the highest points of the session at 7433 points, winning 1.45 percent. While at the end of the session, the general index closed at 7425 with 98 points, 1.3 percent. Liquidity rose 2.7 percent by 82 million riyals to 3 billion riyals, and the average transaction value was 35,000 riyals. The traded shares increased by 1% by about 739 thousand shares to reach 147 million traded shares, with a turnover rate of 0.28%. Transactions rose 1 percent to reach 89,000 transactions.
Sector Performance
All sectors except three declined, the "Media" rose by 2.8%, followed by "Energy" by 1.9%, "Banks" by 1.8%. "Luxury goods" led the decline by 0.4%, followed by "long-term goods" by 0.23%, and then "food production" by 0.09%.
The highest turnover was "Basic Materials" by 27 percent at SR 840 million, followed by "Banks" by 25 percent at SR 766 million, and "Insurance" by 13 percent at SR 414 million.
Stock performance
The rising was led by "Jadwa REIT Saudi" that rose 8.6 percent to close at SAR 10.02, followed by "ACIG" by 6.6 percent to close at SAR 18.29, and "Taleem REIT" by 6.5 percent to close at SAR 11.33. On the other hand, the decline was led by "Al Ahlia" that was down 1.8 percent to close at SAR12.02, followed by "Al Abdullatif" by 1.76 percent to close at SAR12.86, and then "Saudi Re" by 1.45 percent to close at SAR 9.51.
The highest turnover was "Alinma" by 14 percent (443 million riyals), followed by "SABIC" (SAR 379 million) at 12 percent, and "Dar Al Arkan" (9 percent) at SAR 270 million.
* Economic Reports Unit
