By: Mohamed Idris
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) closed Sunday's session on a negative note.
The main index lost 1.89% or 116.46 points to stand at 6,060 points.
The benchmark continues to see a downward performance whether on the daily or weekly basis; the index will form resistance at 6,238 points, financial analyst, Ryan Al Kharashy, told Mubasher.
The analyst added that closing at 6,084 points means that support will be seen at 5,910 points, while resistance is seen at 5,989 points.
if the market trades under the level of 6,084 on Monday, it will fall towards 5,989 points, Al Khrashy noted.
He added that liquidity is low ahead of the announcement of Q3 financial results, added to the fluctuation of oil prices and the geopolitical incidents including the awaited US Federal decision.
Traded volume reached 92 million shares at a value of SAR 1.6 billion, distributed over 48,000 transactions.
The transport sector led the worst performers falling 3.90%, followed by the industrial investment and telecommunications sectors which decreased 3.63% and 2.86%, respectively.
Malath Cooperative Insurance and Reinsurance Company topped the highest stocks rising 5.4% to SAR 10.90, followed by Umm Al Qura Cement which advanced 3.74% to SAR 19.70.
On the other hand, Saudi Transport and Investment (Mubarrad) topped the losing stocks declining 6% to SAR 53.50, followed by Saudi Industrial Export Company (SIEC) and National Shipping Company of Saudi Arabia (Bahri) by 5.5% to SAR 33.70 and 5% to 33.70, respectively.
Alinma Bank was the most active in terms of traded volume with 21 million shares, while SABIC registered the highest traded value with SAR 274.8 million.
Translated by: Sara Ghali
