Tadawul logs first weekly losses in 1M

Riyadh-Mubasher: Saudi Stock Exchange (Tadawul) witnessed losses this week for the first time since early April, amid a decline in liquidity.

The general index decreased 2.2% or 149.4 points to reach 6,656.41 points this week, compared to 6,805.84 points last week.

The market saw a downtrend in the first four trading sessions of this week, yet its rise on Thursday trimmed the total weekly losses.

The transportation sector lost 3.68%, followed by the cement, banking, and petrochemical sectors at 3.58%, 3.07% and 1.88% in a row.

The telecom sector tailed the list of decliners after falling 0.17%. On the flipside, the energy sector added 3.02%, followed by the industrial investment and insurance sectors at 0.43% and 0.1%, respectively.

Saudi Enaya Cooperative Insurance was the best performer after rising 21% to SAR 14.67 this week, while Taameer Real Estate Investment led losers after decreasing 12.2% to SAR 18.82.

Al Rajhi Bank levelled down 3.41%, while Al Ahli Takaful, SABIC and SAFCO slid 1.6%, 2.08% and 1.56% in a row. On the other hand, STC retreated 0.77%.

Tadawul saw trading of 1.71 billion shares this week, down 24% from 2.27 billion shares last week.

Turnover declined 24% to SAR 20.15 billion ($8.04 billion) during the period, compared to SAR 39.67 billion ($10.58 billion).

Al Inma Bank was the value leader and most active stock after trading 312.53 million shares, with a turnover of SAR 4.4 billion.