Saudi equities lose on average 21 days by pressing the "banks" key and liquidity drops by 20%

09 11 2018

Saudi shares fell by 49 points to lose 0.63% and close at 7,743 points, and the market value fell by 12 billion riyals to 1.83 trillion riyals. The decline came from the pressure exerted by the banking sector led by Al-Rajhi.

The market has lost an average of 21 days and significant averages and support at 7777 points, and the continuation of the market will start a more severe decline. In the run-up to the announcement, the intensity of advertising will intensify, which can affect the evolution of the market, but overall remains positive with an 11% growth in total consolidated profit of 82 billion SAR, in order to keep the market 17 times on the bill.

Overall market performance

The general index opened yesterday at 7792 points, and the session between the rise and fall, the highest point at 7802 points, gaining 0.12%, while the lowest point at 7743 points lost 0.63 %, the end of the session closed the general index at 7743 points lost 49 points, 0.63% Liquidity decreased by 20% to 67.6 million riyals to reach 2.6 billion riyals and the average value of the transaction was 25,000 riyals.

While the shares traded fell by 8% from about 10 million shares to reach 123 million shares traded, with a turnover rate of 0.23%. Transactions fell 8% to 104,000.

Sector Performance

Three sectors increased against the rest. Consumer services rose 0.78%, followed by those of real estate management and promotion by 0.3% and investment and finance by 0.20%. %.

The decline in capital goods was 1.8%, followed by utilities 1.6% and food fragmentation 1.1%. The highest business turnover was from "basic materials" by 29% to 762 million RS, followed by "banks" by 21% to 541 million RS and "insurance" from 12% to 310 millions of RS.

Stock performance

The highest gain was recorded in Fish, which closed at 24.20 SAR, followed by Gulf Union 9.5% to close at 15.16 SAR and 4.3% for MTLIF at 19.28 SAR. In addition, the decline of "Cables" of 5.7% was reduced to 36.35 riyals, followed by "Swicorp Wall Riet" of 4% to close at 8.77 riyals and the third "Southern Cement" of 4% to close at 35.85 ryan.

Al-Enma was up 12 percent to 328 million RS, followed by SABIC with 286 million RS to 11 percent and Al Rajhi 3 percent to 88 million.

© 2018