Ahmed Al-Rasheed from Riyadh
Saudi stocks rose for the second session, to close at 7,530 points, gaining 30 points by 0.4 percent, its highest level in five months. While the MT30 index increased two points by 0.3 percent to close at 1020 points. The rise was supported by most sectors and stocks. Aramco's results, with the decline in profits, did not affect the stock’s performance, due to the continuation of cash dividends and the preservation of the dividend policy, which makes the stock achieve returns that exceed market returns, and that keeps the stock at its price levels without being affected by the company's results, especially with the continuation of the dividend policy.
The market is waiting for the rest of the companies, which have not yet been announced, and the disclosure period ends on August 25, and the market is still exposed to selling pressures in the absence of positive data that stimulates dealers to raise the market’s valuation at higher frequencies, but the continued decline of the epidemic improves the morale. Clients.
Technically, the market is facing resistance at current levels, while support is at 7420 points
Overall market performance
The general index opened at 7507 points, trading between high and low. The highest point was at 7,533 points, a gain of 0.45 percent, while the lowest point was at 7490 points, losing 0.12 percent. At the end of the session, the general index closed at 7,530 points, winning 30 points, about 0.4 percent. Liquidity decreased slightly, by about 1 percent, by 39 million riyals, to reach 5.5 billion riyals, at a rate of 21 thousand riyals per transaction. While traded shares increased 16 percent by about 40 million traded shares, to reach 282 million traded shares, the turnover rate for free shares was 0.5 percent, and deals rose 1 percent by about 1.8 thousand deals to reach 255 thousand deals.
Sectors performance
Three sectors retreated against the decline of the rest. The decline was led by “food production” by 0.49%, followed by “telecommunications” by 0.29%, and “food splitting” by 0.19%. While the rise was led by "applications and technology services" by 2.53 percent, followed by "retail luxury goods" by 1.67 percent, and "long-term goods" by 1 percent.
The highest turnover was "basic materials" by about 17 percent with a value of 934 million riyals, followed by "management and development of real estate" 14 percent with a value of 783 million riyals, and a solution of "banks" 12 percent with a value of 669 million riyals.
Stock performance
The "National" rose shares were topped by 9.98 percent to close at 36.35 riyals, followed by "Takween" by 8.2 percent to close at 9.25 riyals, and the third, "Tabuk Agricultural", by 6.8 percent, to close at 20.94 riyals. On the other hand, the decline was led by "Al-Rajhi Takaful" by 1.6 percent to close at 72.20 riyals, followed by "Taiba" 1.5 percent to close at 29.55 riyals, and "Shaker" 1.3 percent to close at 12.54 riyals.
The highest turnover was "Dar Al-Arkan" with a value of 440 million riyals, followed by "Makkah" with a value of 226 million riyals, and "Al-Rajhi" with a value of 219 million riyals.
Economic Reports Uni.
