By: Thabet Shehata
Riyadh – Mubasher: The benchmark index of the Saudi Stock Exchange (Tadawul) gained 0.75% or 44.92 points to reach 6,021.81 points by the week ended 1 September as compared to 5,976.89 points a week ago.
Turnover shrank 5.4% to SAR 12.58 billion ($3.35 billion) from SAR 13.3 billion ($3.55 billion in the past week. This week’s liquidity is the lowest since 2011.
Market cap grew by SAR 7.66 billion ($2.04 billion) to reach SAR 1.405 trillion ($374.8 billion) over this week from SAR 1.398 trillion ($372.75 billion) a week ago.
The banks sector topped the gainers by 2.36%, on the back of Al Rajhi Bank which rose 5.24% to SAR 56.67. Meanwhile, the insurance sector led the decliners by 4.88%.
Saudi Cement was the top winner this week by a 9% rise to SAR 56.50, while Arabian Shield led the losers by a 13.5% fall to SAR 21.28.
Al Inma Bank was the most active stock on which 230.8 million shares were traded at a value of SAR 2.9 billion. The stock fell 1.67% to SAR 12.40.
The downward performance is likely to continue after the index broke the level 6,100 points, technical analyst Muhammad Al-Maymouni said.
The support levels remain at an average between 5,900 and 5,800 points, he said, expecting the index to move to a sideways performance to a range between 5,900 and 6,100 points until the trading resumes after Eid Al-Adha break.
Translated by: Ingy ElSafy
