By: Majed Al Shabeeb
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) on Sunday extended its declining trend for the ninth session in a row to record its longest falling streak in 44 months.
The main index shed 0.53% or 33 points to stand at 6,302 points.
Liquidity retreated to SAR 3.4 billion, compared to SAR 3.89 billion on Thursday exchanged over 184.1 million shares.
The Savola Group and Mobily decreased 5% and 4%, respectively, while Al Marai and Al Rajhi Bank rose 3% and 1.3%, respectively.
SABIC and Saudi Electricity lost about 1% each, while Riyad Bank and Jabal Omar Development increased slightly.
Tadawul’s downward performance is discouraging the traders as it lacks liquidity and positive stimuli, said technical analyst Ahmed Al Yahe.
The market may rebound, but it will be temporary, the analyst told Mubasher.
The real estate sector increased 0.58%, backed by Emaar The Economic City and Jabal Omar Development.
The media sector topped losers falling 3.79%, followed by the hotels and building sectors which decreased 3.12% and 2%, respectively.
On stocks level, 127 companies retreated, led by Malath Cooperative Insurance and Reinsurance Company, which was down 9.85%.
On the other hand, 41 companies levelled up, led by United Cooperative Assurance Co rising 9.6%.
Translated by: Sara Ghali
