By Mohamed Abu Meleeh
Riyadh – Mubasher: Saudi Stock Exchange (Tadawul) fluctuated on Monday within 166 points, as it rose to 6,838 points with a gain of 73.47 points in the first two thirds of today’s session, then moved lower to 6,672 points. It shed 1.16% or 78.33 points and closed at 6,547 points.
The market saw selling pressures during the last third of today’s session.
The main index lost 314.5 points or 4.49% during the last three sessions. It also shed 553.66 points, or 7.65% since the start of December, which is more than one third of the losses logged since year-start amounting to 1,647 points, or 19.76%.
The market capitalisation of listed companies declined by 1% or SAR 15.46 billion. It lost SAR 63.8 billion in the last three sessions and SAR 106.65 billion month-to-date.
Meanwhile, oil prices tumbled for the seventh successive day, to near an eleven-year low, due to growing fears about supply glut in global markets.
The market was also weighted by anticipation for the kingdom’s state budget to be announced next week.
Most sectors were in red, except for media and publishing that rose 9.06% backed by SRMG that saw major reshuffle in its board of directors.
The multi-investment also advanced powered by Kingdom Holding that rose by 402%.
However, industrial investment was the biggest loser (-5.53%), followed by insurance (-3.88%) and hotel and tourism (-3.35%).
Traded volume decreased by 2% to 277 million shares from 283 million shares. Yet, traded value increased by 2.4% to SAR 5.47 billion from SAR 5.34 billion.
Saudi Printing was the top performing stock (+9.94%), followed by SRMG (+9.8%) and Paper (+7.29%), while Alinma Tokio Marine was the worst performing stock (-8.68%), followed by BCI (-8.66%) and Ma’aden (-8.4%).
Translated by Sayed Abdel Rahman
