* Ahmed Al-Rasheed from Riyadh
Saudi stocks fell in the longest losing streak since the end of March to close at 7307 points, down 60 points, 0.7 percent, amid a near-total decline in sectors. Leading sectors were the biggest drag on the index.
"SABIC" did not react with its positive results, which came above the average forecast to close the stock unchanged.
Earlier indications of weakness in the index and the possibility of being subjected to selling pressure with the closure closed below 8427 points.
With an average break of 21 days and 8350 points, the market will be under greater pressure unless these levels are regained, with the possibility of breaking 8,000 points to reach 7800 points.
Overall market performance
The general index opened at 8367 points, and headed towards the lowest point at 8286 points, losing nearly 1%. At the end of the session, the general index closed at 8,307 points, losing 60 points, 0.7 percent.
Liquidity rose 17 percent by about 54.6 million riyals to reach 3.6 billion riyals, or 40,000 riyals.
While traded shares increased 19% by about 23 million shares to reach 144 million traded shares, with a turnover rate of 0.3%.
The deals settled at 90,000 deals.
Sector performance
"Telecommunications" and "Business and Professional Services" increased by 1 per cent and 0.13 per cent respectively, in comparison with the rest of the sectors. "Public utilities" dropped by 4 per cent, followed by "health care" by 3 per cent and
"insurance" by 2.7 per cent.
The main turnovers were "Basic Materials" (51%) with a value of 1.9 Billions, followed by "Banks" (23%) with a value of SR 851 million, and "Insurance" (5%) with a value of SR 169 million.
Stock performance
The rise was led by "Chemanol" with the maximum gains to close at 11.94 riyals, followed by "MEPCO" by 4.8 per cent to close at SAR 25.50, and "Etihad Etisalat" by 4 per cent to close at SAR 19.84.
On the other hand, the decline was led by "Dallah health" with the maximum closing at SAR 79.40, followed by "Wafa Insurance" for the maximum closing at SR12.14, and "Zamil Industrial" of 9.3% and closing at SAR 21.40.
"SABIC" had the highest turnover of SAR 855 million (23 per cent), followed by "Alinma" (14 per cent) with a value of SR 528 million, and "Saudi Kayan" (9 per cent) with a value of SAR 348 million.
* Economic Reports Unit
