Monday , April 12 2021

Saudi shares lost 24 points. Oil volatility reduces investor interest in taking risks



Saudi shares fell 24 points, or 0.3 percent, to close at 7,750 points, and market value fell 4 billion riyals to 1.83 trillion riyals. Despite the decline, but remained around half of the profits from the previous meeting, the decline was under pressure from the banking sector led by "Al Rajhi", and the decline even came with an increase in most sectors to show the impact of the banking sector and basic materials in the market.
The positive performance of the previous session did not continue to lose an average of 21 days and approached less than that but remained at 7700 points, which made the market able to recover on average 21 days. The market seems to have difficulty withdrawing liquidity, losing more than 20 percent of its high, and the continued decline in oil prices will reduce investor interest in taking risks.

Overall market performance
The general index opened at 7774 points, the highest and lowest. The highest point at 7786 points was 0.14%, while the lowest point at 7731 points lost 0.56%. The general index closed at 7750 points, lost 24 points by 0.3%. . Trade values ​​fell 8 percent to 270 billion riyals to 3 billion riyals. While traded shares rose 13 percent to 16 million traded shares reaching 141 million traded shares, with a turnover rate of 0.26 percent. Transactions rose 10 percent to 12,000 transactions, or 12,000 transactions.

Sector performance
12 sectors strengthened against others. "Long-term goods" rose 1.78%, followed by "health care" by 1.7% and "consumer services" by 1.3%. The decline in "luxury goods" by 1 percent, followed by "banks" by 0.5 percent, and "real estate management and development" by 0.5 percent. The main commodities traded were SAR 883 million (29 percent), followed by banks (17 percent) at SR 522 million and insurance (15 percent) at SAR 472 million.

Stock performance
Sadafco is the most traded stock to close at SAR 98, followed by Al-Sirai Group which closed at SAR 11.92, and Al-Jazirah Rit, 7.4%, to close at SAR16.46. Mifec Reit was the top loser in the SAR9, followed by Najran Cement with 3.5 percent to close at SAR8.56, and Eastern Cement by 3.3 percent to close at SAR20.42. SABIC is the most traded problem with SAR 374 million at 12 percent, followed by Development by 11 percent to SAR 341 million, and Fish at 4 percent, worth SR 122 million.
* Economic Report Unit


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