Saudi shares lose 24 points. Oil volatility reduces investors' risk appetite

14 11 2018

Saudi shares fell 24 points (0.3%) to close at 7,750 points, and the market value fell by 4 billion riyals to 1.83 trillion riyals.

Despite the decline, but it remained at about half the gains of the previous meeting, the decline was under pressure from the banking sector led by "Al Rajhi", and the decline even comes with the rise of most sectors to show the impact of the banking sector and basic materials on the market.

The positive performance of the previous session did not continue to lose on average 21 days and close less, but remained stable at 7700 points, which allowed the market to recover an average of 21 days. The market seems to be struggling to attract liquidity, losing more than 20% of its peaks, and the continued decline in oil prices will reduce investors' appetite for risk.

Overall market performance

The overall index was open at 7774 points, the highest and the lowest, the highest point at 7786 points was 0.14%, while the lowest point at 7731 points had lost 0.56% and the general index closed at 7750 points, losing 24 points by 0.3%. .

The value of transactions decreased by 8 percent to 270 billion riyals to 3 billion riyals. While the shares traded increased by 13%, to 16 million shares traded to reach 141 million shares traded, with a turnover rate of 0.26%. The number of transactions increased by 10% to 12,000 transactions, or 12,000 transactions.

Sector Performance

12 sectors advanced against the others. "Long-term goods" increased by 1.78%, followed by "health care" by 1.7% and "consumer services" by 1.3%.

The decline of "luxury products" by 1%, followed by "banks" by 0.5% and "management and development of real estate" by 0.5%. The main products traded were 883 million SAR (29%), followed by banks (17%) at 522 million SAR and insurance (15%) at 472 million SAR.

Stock performance

Sadafco was the most traded title to close at SAR 98, followed by the Al-Sirai group which closed at 11.92 SAR and Al-Jazirah Rit, 7.4%, to close at 16.46 SAR.

Mifec Reit was the main loser of SAR9, followed by Najran Cement 3.5% to close at SAR8.56 and Eastern Cement 3.3% to close at SAR20.42. SABIC was the most traded issue with 374 million SAR (12%), followed by Development of 11%, to 341 million SAR, and 4% of Fish, worth 122 million SR.

© 2018