Saudi stocks continues to retract, liquidity falls 22%

​            The Saudi stock market continued its weekly retract , remaining at November's levels of 6863 points.
    The previous weekly report indicated support at 6820 points, with the closing higher, leaving the market with chances of a bounce, with a break of 6820 points to bring the market back to 6700 points.
    The market may find pressure from declining oil prices, where the barrier has lost $ 50, and Brent crude prices are heading towards $ 47 and the price of oil remains below $ 50 will increase the concern of market participants that the government can take measures that limit government spending. Liquidity from trading in the market will affect the course of the market.
    This month is the last in the first quarter, so there will be pre emptive movements of corporate results for the first half and some companies with semi-annual distributions, which may attract liquidity to them if returns are better than alternative opportunities.
    Overall market performance

    The index opened the week at 6871 points, falling in two sessions and up in the rest. The highest point at 6894 was 0.33 percent, while the lowest point at 6765 points lost 1.5 percent. At the end of the week it closed at 6863 points, losing eight points, or 0.12 percent.
    Trading ​​fell 22 percent to SAR 10 billion to SAR 10 billion, while trading amount fell 23 percent to 582 million stocks at a rate of 1 percent, while transactions fell 23 percent to 245,000.

    Sector performance

    Seven sectors going up against the rest of the sectors. The decline was led by "Media" by 3%, followed by "Facilities" by 2.4% and "Long Term Goods" by 2.37%.
    Food production rose by 3.5 per cent, followed by health care by 1.33 per cent and luxury goods by 1 per cent.
    The highest turnover was "Banks" by 27 per cent, valued at 2.7 billion riyals, followed by basic materials by 25 percent, worth 2.5 billion riyals, and third by real estate management and development, 13 per cent at 1.3 billion riyals.

    Stocks performance

    The market traded 173 stocks. Raate Education up to 33 percent to SAR 13.3, followed by Asmak with15 percent to SAR 28.13.
    And third, "Andalus" by 6 per cent to close at 22.86 riyals. "Namaa Chemicals" rose 11 percent to SAR 15.34, followed by "Malath Insurance" by 9 percent to SAR 18.60 and "Paper manufacturing" with 8 percent to SAR 7.05.
    Enma was 17 per cent higher by SAR 1.7 billion, followed by SABIC by 17 percent and SAR 1.6 billion by Dar Al Arkan and 10 percent by SR 1 billion.