By: Mohamed Idris
Riyadh – Mubasher: The main index of the Saudi Stock Exchange (Tadawul) fell 1.21% or 68 points to close at 5,564 points on Monday.
The market is going through a phase of fluctuation, which is normal, amid waiting for the companies’ third quarter financial results, technical analyst, Mansour Al Amary said.
He added that the companies’ results is not the only affecting factor, where the Saudi government’s budget announcement will be soon, adding to expectation of the Fed to raise the rate, which will directly affect the rates in the Kingdom.
Traded volume reached 148 million shares at a value of SAR 2.19 billion ($584 million), exchanged through 68,000 transactions.
Salama led the142 losing stocks decreasing 9.28% to SAR 8.55, followed by Al Sagr Cooperative Insurance and United International Transport’s (Budget Saudi Arabia) which levelled down 5.67% to SAR 28.80 and 5.43% to SAR 24.35, respectively.
On the other hand, Trade Union Cooperative Insurance topped the 25 rising shares increasing 9.79% to SAR 10.65.
The media sector rose 1.77%, while the hotel sector topped the red zone falling 2.68%, followed by the cement and insurance sectors which decreased 2.58% and 2.40%, respectively.
Al Inma Bank was the most active stock in terms of trading value and volume, achieving a turnover of SAR 357 million through trading 30 million shares. The stock went down 2.99% to SAR 11.70.
Translated by: Sara Ghali
