* Ahmed Al-Rasheed from Riyadh
Saudi stocks ended the longest streak since December 2017 by closing at 8270 points, 21 points down of 0.25 per cent, with pressure from the "Basic Materials" sector that is led by SABIC.
Performance was in line with the previous report where the indicators of weakness of the current upward trend are mentioned, which may enter the market in a wave of profit-taking, especially after a long wave of rise.
Yesterday's trading is definitely negative, but it is still early to rule that the current bullish wave is over and enter the wave of profit-taking secondary or return to profitability.
This is determined in today's meeting that any declines that occur may be minor as long as the barrier does not break 7960 points.
Secondary declines will be followed by bullish rebound levels to reach 8500 points.
Overall market performance
The general index opened yesterday's session at 8291 points that is trading between high and low.
The highest point was at 8306 points, gaining 0.18%, while the lowest point was at 8262 points, losing 0.35 per cent.
At the end of the session, the general index closed at 8270 points, losing 21 points, or 0.25 percent.
Liquidity rose 10 per cent by about SAR 3.2 billion at a rate of 28 thousand riyals per transaction.
While traded stocks increased by 3% by about 2.9 million stocks to reach 121 million stocks with a turnover rate of 0.22 per cent.
Deals rose 14 per cent by about 13,000 to reach 113,000 deals.
Sector performance
Seven sectors rose against the decline of the rest.
The rise was led by "food production" by 1.5 per cent, followed by "commercial and professional services" by 1.2 per cent and "food fragmentation" by 0.59 per cent.
The decline was led by "capital goods" by 1 percent, followed by "basic materials" by 0.77 per cent, and "Retail Luxury Goods" by 0.69 percent.
The highest turnovers were "banks" by 25 per cent at a value of SR 816 million, followed by "basic materials" by 25 per cent with a value of SR 813 million and "insurance" by 16 per cent with a value of SR 511 million.
Stock performance
The rise was led by "Dallah Health" by3.8% to close at 63.10 riyals, followed by "Budget Saudi Arabia" by 3 percent to close at 27.90 riyals, and "Almarai" with 3 per cent to close at SAR 55.20.
On the other hand, the decline was led by "Enaya" by 7% to close at 15.22 riyals, followed by "Khodari" by 3 per cent to close at 6.96 riyals, and "Amanah Insurance" by 2.6 percent to close at SAR 22.60.
"SABIC" had the highest turnover of SAR 407 millions of 13 per cent, followed by "Al Rajhi" by 11 per cent with a value of SAR 342 million, and "Enaya" by 10% at a value of SR 337 million.
* Economic Reports Unit
