Saudi stocks decline after 4 profitable sessions .. and “Insurance” achieves the best daily performance in two months

Saudi stocks decline after 4 profitable sessions .. and “Insurance” achieves the best daily performance in two months
Saudi stocks decline after 4 profitable sessions .. and “Insurance” achieves the best daily performance in two months

Saudi stocks fell after four winning sessions, to close at 11,758 points, losing 15 points by 0.13 percent, while the “MT30” index, which measures the performance of the leading shares, fell six points by 0.43 percent, to close at 1618 points, and the decline came despite the rise Most sectors and stocks, but the decline of the “Basic Materials” and “Banks” sectors put pressure on the general index.
The decline came after the market reached its highest level since January 2008, while the closing came at a level close to the opening; What makes the market in a neutral movement. In today’s session, the market movement will reveal more its direction for the rest of the week, and in the event of a return to profitability, the market will be closer to achieving its highest levels since July 2006. The market witnessed a remarkable movement from the insurance sector, which achieved the best daily performance in two months with its companies leading the list of the highest risers And the sector is trading with profitable multiples less than the market, with a high performance since the beginning of the year by about 16 percent, compared to 35 percent for the market, which makes liquidity, which is looking for quick gains and looking for prices below market rates, heading to it.
overall index performance
The general index opened yesterday’s session at 11759 points. It did not achieve any significant gains, to record the lowest point at 11707 points, losing 0.56 percent. At the end of the session, the general index closed at 11,758 points, losing 15 points by 0.13 percent. Liquidity fell 5 percent by about 381 million riyals to reach 7.2 billion riyals, while the traded shares fell 11 percent by about 25 million shares to reach 193 million traded shares. As for deals, they rose 1 percent by about 3.6 thousand deals, to reach 337,000 deals.
Sector performance
11 sectors rose against the decline of the rest, and the rise was led by “insurance” by 2.7 per cent, followed by “commercial and professional services” by 1.8 per cent, and “applications and technical services” by about 1 per cent, while the decline was led by “basic materials” by 1.3 per cent. percent, followed by “medicines” by 0.9 percent, and “food fragmentation” by 0.87 percent.
The highest turnover was “basic materials” by about 26 percent, with a value of 1.9 billion riyals, followed by “insurance” by about 11 percent, with a value of 780 million riyals, and “public utilities” by about 10 percent, with a value of 729 million riyals.
stock performance
The highest rise was led by “Arab Insurance” by 9.9 percent to close at 41.60 riyals, followed by “Amanah Insurance” share by 8.6 percent to close at 52.20 riyals, and thirdly, “Enaya” share by 5.6 percent to close at 38.15 riyals. On the other hand, “Yansab” had the lowest shares by 4.8 percent to close at 80 riyals, followed by “Sipchem International” by 2.3 percent, to close at 43.55 riyals, and thirdly, “Saudi Ceramic” by 2.2 percent, to close at 57.80 Rial.
The highest turnover was the “ACWA Power” share with a value of 621 million riyals, followed by the “Saudi Kayan” share with a value of 294 million riyals, and “SABIC” with a value of 232 million riyals.
Economic Reporting Unit

 
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