After a wave of gains, Saudi shares climb to more than 7400 points

19 10 2018

Saudi shares fell for a second consecutive session to close at 7,648 points, losing nine points of 0.13%, under pressure from SABIC's "core materials".

Market value fell as the market fell 20% to 2.9 billion riyals.

Yesterday's session is close to yesterday's session, with a slight decline due to volatility that erodes following a strong wave of gains, pushing speculators to sell for gains. , and the market is still consolidating above 7400 points, now the chances of resuming upward to reach 7760 point levels, try to approach the 8000 points checkpoint.

The financial results of the banks have shown good performance for the sector in the third quarter to date. The sector results are not yet complete, but they should continue to grow, improving profitability and improving the overall performance of the index.

Overall market performance

The overall index was opened at 7657 points, between high and low, the highest point at 7673 points was 0.21%, the lowest point at 7620 points was 0.49% and the index closed at 7,648 points, losing 9 points of 0.12%.

Trading stocks fell 20% to 731 million rupees to 2.9 billion rands

While the shares traded fell by 27% to 114 million shares, the turnover rate was 0.21%. Transactions fell 14% to 90,000.

Sector Performance

Five sectors rose against the rest. Capital goods grew by 2.5%, followed by telecommunications by 1.6% and consumer services by 1.56%.

"Business and professional services" decreased by 1.65%, followed by "health care" by 1.3%.

The highest turnover was "Banks" (37%), followed by "Basic Materials" (31%) with 919 million RS and "Insurance" (5%) with 148 million SR.

Stock performance

Exports rose 11% to close at 51 riyals, followed by Ceramics for the highest at 20.5% and third for exports at 92.10 riyals.

HSBC was the biggest loser at 5%, followed by Al Ahli by 3% to close at 43.20 SAR and 2.8% for Cable at 30.40 SAR.

The highest turnover was Al Rajhi (434 million SAR), followed by Al-Enma (359 million) and SABIC (11%) with 343 million RS.

© 2018