The Saudi stock market returns to the red zone, with pressure from basic materials and communications

The Saudi stock market returns to the red zone, with pressure from basic materials and communications
The Saudi stock market returns to the red zone, with pressure from basic materials and communications

Riyadh – Mubasher: The Saudi stock market, “Tadawul”, ended today’s session in the red, to regain its losses after yesterday’s gains, in light of the decline in the basic materials and communications sectors, compared to the rise in the banking and energy sectors.

The general index of the market “TASI” closed down by 0.33% with a loss of 38.90 points, bringing it to the level of 11,807.79 points.

Trading activity increased by the end of trading by a marginal margin to reach 6.088 billion riyals, compared to 5.939 billion riyals, through 174.449 million shares, compared to 156,845 million shares in the previous session.

The red color dominated the performance of the sectors, most notably the basic materials sector, which declined by 1.08%, the telecommunications sector fell by 0.45%, and the transportation sector was the most declining by 1.9%.

On the other hand, the performance of only 3 sectors increased, namely, media and entertainment by 0.41%, energy by 0.16%, and banks (the highest weighted in the index) with an increase of 0.12%.

On the level of stock performance, losses included 170 shares issued by Petro Rabigh, down 9.91%, and the closing of 27 cm came in green, led by “Saudi Fransi” by about 3.97%, after announcing today the financial results for the third quarter of this year.

“Saudi Aramco” dominated the stock activity in terms of liquidity by about 459.484 million riyals, while the share of Al-Jazeera was the most active in terms of volume by about 13.06 million shares.

With regard to the performance of the parallel market, the (Upper Limit Growth) index closed down by 0.16%, with a loss of 39.01 points, to reach the level of 23,912.22 points.

The shares of National Building and Marketing topped the gains, up by 2.62%, while the share of “Development Food” recorded the highest losses by 3.03%.

The general index of the market “TASI” closed the trading session yesterday, Tuesday, down by 0.36%, with a loss of 43.15 points, bringing it to the level of 11,846.69 points.

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