By: Mohamed Idris
Riyadh – Mubasher: The main index of the Saudi Stock Exchange (Tadawul) fell 1.08% or 61.27 points to stand at 5,632 points at the end of Sunday’s session.
The Saudi market is getting ready to start an upward wave that may last for months if it posted a larger liquidity than the currently achieved traded values, technical analyst, Abdullah Al Gabaly, told Mubasher.
He added that in case the market stood at the same level of liquidity, it will keep on its downward trend, especially after breaking the support level of 5,800 points.
Traded volume reached 161 million shares at a value of SAR 2.13 million ($568 million) through 67,160 transactions.
Solidarity Saudi Takaful topped the 131 losing shares falling 9.22% to AR 6.40, followed by Al Sagr Cooperative Insurance and Al Tayyar Travel Group Holding which levelled down 9.09% to SAR 29.70 and 5.97% to SAR 26, respectively.
On the other hand, Saudi Indian Company for Cooperative Insurance Company (Wafa Insurance) led the 36 gaining stocks adding 5.71% to SAR 12.45.
The sectors came in a collective fall topped by the hotels sector which lost 4.14%, followed by the banks and retail sectors which went down 1.6% and 1.25%, resp0ectively.
Al Inma Bank was the most active stock in terms of trading value and volume, achieving a turnover of SAR 242 million through trading 20 million shares. The stock went up 0.42% to SAR 12.05.
Translated by: Sara Ghali
