03/11/2017
Saudi stocks rose for the second straight session to close at 6,965 points, eight points higher. The rise with the support of banks led by "Ahli".
The market with the positive changes
surrounding the market from giving the "financial balance" the
flexibility to adjust the increase in the prices of subsidies and the
like in accordance with the interest of economic growth and planned
increase of government spending for next year and the improvement of oil
prices.
On the technical side, the market remains in negative territory and is unable to exceed 7,000. Next week will be the final release of the financial results, as the
intensity of the ads will increase, which will have an expected impact
on the volatility and liquidity movement, which may stimulate the market
movement monotonous, as the index continues to trade in a narrow range
of four sessions.
Overall market performance
The index opened at 6948 points, trading between high and low. The
highest point at 6959 points was 0.16 percent, while the lowest point
was at 6933 points, losing 0.21 percent at the end of the session. The
general index closed at 6,956 points, gaining eight points. Liquidity
rose 22 million riyals by 0.7 percent to 3.1 billion riyals, and the
average value of the deal was 36 thousand riyals. While
traded shares increased 26 million shares by 17 percent to 183 million
traded shares, with a drop rate of 0.96 percent. deals rose 8 percent to 85,000.
Sector performance
Real estate traded funds
by 0.92 percent and trade and professional services by 0.86 percent. The decline was led by "Transportation" by 0.95%, "Investment and Finance" by 0.7% and "Insurance" by 0.46%.
The highest drop was "Basic Materials" by 30 percent by 944
million, followed by "Banks" with 848 million at 27 percent and Real
Estate Management and Development at 14 percent, at SR 436 million.
Stock performance
The market traded 176 stocks, 74 shares rose against 99 shares and three shares declined. Tabuk
cement rose 7 percent to SAR 12.77, followed by Tihama Advertising by 5
percent to SAR 43.89, and Al Jouf Cement was down 4.3 percent to SAR
7.92, Dar Al Arkan was the top loser at 7.61 riyals,
followed by Al Alamia by 4.8 percent to close at 25.32 riyals, 4.7 percent lower at 9.92 riyals.
The highest drop was Enmaa with a value of SR 614 million (20
percent), followed by SABIC (SAR 459 million) at 15 percent and Dar Al
Arkan third with 13 percent at SR 396 million.
