* Ahmed Al-Rasheed from Riyadh
Saudi stocks tumbled to end a five-session rally, and closed at 8,256 points, losing 20 points, down 0.25%.
The decline came in the mixed performance of sectors, where eight sectors fell against the rest. The decline came under the pressure from the "basic materials" led by "SABIC".
The previous analysis in the report mentioned the resistance of the market at 8280 points with the saturation of the market and high repeaters profitability, which threatened the upside if companies do not announce or exceed expectations. So far, most of the results have not been seen, as the deadline expires early next month.
The market showed consistency in yesterday's session, and if it does not rise, it will face selling pressures as it stops making new gains. This stimulates profit taking and special capital gains with the index reaching the highest levels since August 2015 and achieving a series of consecutive gains. The support levels were at 8150 points, while resistance was at 8300 points.
Overall performance of the market
The general index opened at 8277 points, trading between high and low. The highest point was at 8295, 0.22 percent, while the lowest was at 8238 points, 0.47 percent. The general index closed at 8,256 points, losing 20 points, 0.25 percent. Liquidity declined by 26 percent by about 4.4 billion to reach 36.8 billion. While traded shares fell 17 percent by about 42 million traded shares to reach 208 million shares traded, and the turnover rate was 0.40 percent. Deals fell 17 percent by about 24,000 to reach 119,000 deals.
Sector performance
Eight sectors fell against the rest. The decline was led by "medicines" of 3 percent, followed by "luxury goods" of 0.86 percent and "basic materials" of 0.81 percent. While "Food Retail" rose 2.5%, followed by "Media" by 1.93%, and "Public Utilities" by 1%.
The highest turnovers were "Basic Materials" of 28 percent with a value of SR 1.2 billion, followed by "Banks" of 26 percent with a value of SR 1.1 billion, and "Real Estate Management and Development" of 7 percent with a value of 330 millions.
Stock performance
The rise was led by "Sharqiyah Development" that close at SAR 51.63, followed by "Astra Industrial" of 7.13% to close at SAR 20.59, then "Arabia Insurance" of 5.5% to close at SAR 18.48.
On the other hand, the decline was led by "Sahara" of 5.25 percent to close at 18.94 riyals, followed by "Amiantit" of 4.13 percent to close at 7.89 riyals, "pharmaceutical" of 2.64 percent to close at 30.61 riyals.
"SABIC" had the highest turnover of SR 457 million (10 percent), followed by "Alinma" of 414 million riyals (9 percent) and "Al-Jazeera" of SAR 386 million (9 percent).
* Economic Reports Unit
