By: Thabet Shehata
Mubasher: The main index of the Saudi Stock Exchange (Tadawul) levelled down by 0.42% or 29.51 points to reach 7,016.66 points by the week ended 2 March as compared to 7,046.17 points by the week ended 23 February.
This week witnessed the launching of Nomu, the Parallel Market, which is an asset to the main market, opening at 5,000 points and closing at 5,994 points, capital market analyst Salem Al-Shuwayman said.
As the disclosure of the first quarter’s financials approaches, the main index is expected to target the 7,066 point-level of which breaking will lead to a target of 7,093 points, the analyst said, noting that the key support level lies at 6,913 points.
During the week, the market cap shrank by SAR 6.63 billion ($1.77 billion) to total SAR 1.64 trillion ($438.29 billion) as compared to SAR 1.65 trillion ($440 billion) by the end of the prior week.
Liquidity gained 8% to stand at SAR 19.87 billion ($5.3 billion) this week from SAR 18.38 billion a week ago, as trading volume increased by 5.2% to reach 1.09 billion shares from 1.04 billion.
The media sector led the decliners with a fall of 7.1%, while the real estate funds segment topped the gainers with a gain of 7.6% this week.
Buruj Cooperative Insurance gained 7.94% during this week to reach SAR 32.61, being the top winner.
Alinma Bank recorded the highest trading value of SAR 1.84 billion, gaining 0.62% to reach SAR 14.66.
Dar Al Arkan was the most active stock on which 148.27 million shares were traded, with the stock rising 1.17% to SAR 6.06.
