* Ahmed Al-Rasheed from Riyadh
Saudi stocks ended the week up by 379 points, by 4.8 per cent, to close at 8210 points.
It added about 85 billion riyals to its market value of 1.95 trillion riyals.
The positive performance came with the support of most sectors, especially the leadership,
In line with expectations of the previous report, which pointed to the ability of the market to exceed the levels of 8000 points.
The market will face next week resistance at levels of 8380 points, where the recent daily sessions showed that the rally was the result of a few sectors affecting the index, a trend in many sectors to take profits, which is a challenge to the market during the coming sessions.
The accumulation of capital gains may push the governor to sell for profit especially after a series of successive rises that lasted six sessions.
If the market sees a decline, this will be secondary, given the market's superior performance in all its 200-day averages, which shows an increase in risk appetite.
This comes amid positive expectations for annual results from investors and high ratings for companies, the market's proximity to international indices and the increase in cash dividends for 2018.
However, the 7960 levels remain an important support barrier for the market.
Overall market performance
The index opened at 7830 points.
The highest point was at 8230 points, gaining 5.1 per cent.
At the end of the week, the index closed at 8210 points, gaining 379 points, down 4.8 percent.
Trading values rose by 81 percent to by about 7 billion to reach SR 15.6 billion, or SAR 28,000.
While traded shares rose 89% by about 304 million shares to reach 644 million shares, with a turnover of 1.2%.
Deals rose 43 per cent by about 165,000 deals to each 542,000 deals.
Sector performance
14 sectors led by the banking sector that rose 7 per cent, followed by "food production" by 6 per cent, and "basic materials" by 4.65 per cent.
The rest of the sectors declined, which led by the "management and development of real estate" by 1 percent and followed by "medicines" by 1 per cent.
The highest turnovers were "banks" by 30 per cent with the value of 4.8 billion riyals, followed by "basic materials" by 25 per cent with a value of SR 3.9 billion, and "Insurance" by 8 per cent with a value of SR 1.2 billion.
Stock performance
The rise was led by “Petro Rabigh” by11% to close at SAR 21.06, followed by "Saudi Industrial Group" by 10.8% to close at 23.88 riyals, and "Samba" by 10 per cent to close at 34.75 riyals.
The decline was led by "Enaya" by 15 percent to close at 18.18 riyals, followed by "Metlife" by 8.7% to close at 22.04 riyals, and “Al-Drees” by 8.5 percent closing at 33.70 riyals.
The highest turnovers were "Al-Rajhi" with a value of 2.1 billion riyals, followed by “SABIC” with a value of SR 1.5 billion, and “Alinma” with a value of SR 988 million.
* Economic Reports Unit
