*Ahmed Al-Rasheed from Riyadh
Saudi stocks rose after two sessions of retreat, increasing by 11 points, 0.14 per cent.
It closed at 8247 points, three points lower from 8250 points, which is a support area mentioned in the previous report that is of technical importance. If maintained, the market remains on a bullish path in the coming sessions.
The rise comes despite a drop in liquidity below three billion riyals. The basic materials sector, supported by the management and development of real estate, was the largest contributor to market profitability.
So far, corporate results for the second quarter have not been shown, which will determine the course of the market for the coming period. The positive expectations that were emerging from the experienced houses, especially in the banking sector, contribute significantly to market profitability.
Overall market performance
The general index opened at 8235 points and traded between high and low. The highest point was at 8252 points, a gain of 0.2 per cent, while the lowest point was at 8200 points, losing 0.4 per cent.
At the end of the session, the general index closed at 8247 points, 11 points, 0.14 percent.
Liquidity declined by 12 percent by about 413 billion riyals to reach 2.8 billion riyals, by about 35,000 riyals on average.
While traded shares fell 11 per cent by about 13 million to reach 108 million, with a turnover of 0.2 per cent.
The deals fell 7 per cent by about 6,000 to reach 80,000 deals.
Sector performance
12 sectors rose against the rest.
The rise was led be "Business and professional services" by 3.6 per cent, followed by "medicines" by 1.1 per cent and then "property management and development" by 1 per cent.
While the decline was led by "food production" by 1.6%, followed by "consumer services" by 1.2%, and then "energy" by 0.56%.
The main turnovers were "Basic Materials" of 32% with a value of SR 903 million, followed by "Banks" of 31% with a value of SR 880 million, and then "property management and development" of 9% with a value of 252 millions.
Stock performance
The rise was led by "Amanah Insurance" of 9 per cent to close atSAR 20.94, followed by "KEC" of 4.5 per cent to close at SAR 11.68 and "Catering" of 4 per cent to close at SAR 95.50.
On the other hand, the decline was led by "Al-Akaria" of 4 per cent to close at SAR 14.64, followed by "Al Hokair" of 3.4 per cent to close at SAR 22.80 and "eXtra" of 3.3 per cent to close at SAR 59.
The highest turnovers were "Alinma" with a value of SAR 557 million, followed by "SABIC" with a value of SAR 544 million by 19 per cent, and "Al Rajhi" by 8 per cent with a value of 218 million riyals.
*Economic Reports Unit
