By: Mahmoud Salah Eldin
Riyadh – Mubasher: The Saudi Stock Exchange’s Tadawul All Share Index (TASI) dropped 0.33% or 23.79 points to reach 7,259.22 points by the end of week on Thursday, 5 October.
TASI’s market capitalisation decreased by SAR 4.5 billion ($1.2 billion) to reach SAR 1.716 trillion ($457.8 billion) by the end of the week.
The average of trading value slid 22.8% to SAR 2.996 billion ($798.7 million) during the week, while the average of traded volume tumbled 23.3% registering 124.5 million shares.
TASI’s closing above the support level of 7,200 points and not breaking down is important, and if the index does not drop it will continue its positive trend, market analyst Mohammed Ashemimry said.
If the positive trend ended the index will drop down to 6,950 points, Ashemimry added.
The investors are anticipating the financial results of the third quarter for 2017, and there are positive expectations regarding the banking sector results, especially Al Inma Bank and Al Rajhi Bank, the analyst noted.
On a weekly basis, the real estate investment traded funds (REITs) sector levelled down 6.6%, followed by the commercial and professional services with 2.4%, telecommunication services with 1.6%, materials with 0.75%, and banks with 0.03%.
On the other hand, the utilities sector increased 2.7%, and the insurance sector rose 2.6%.
Meanwhile, the benchmark index of the Nomu-Parallel Market, NOMU went down 4.8% or 162.5 points reaching 3,200.4 points by the end of the week.
Nomu’s trading value stood at SAR 8.2 billion by the end of the week on 5 October, compared to SAR 15.5 billion in the previous week.
Translated by: Mohamed Hesham Azab.
