By: Mohamed Abu Meleh
Riyadh – Mubasher: The main index of the Saudi Stock Exchange (Tadawul) shed 0.48% or 32.16 points to stand at 6,631.15 points at the closing session of Sunday.
After the index had reached its highest level in four months, it's normal to be followed by profit gaining on a number of shares, especially which saw the biggest hikes, Ahmed Magdy, senior financial analyst at KASB Capital Company, told Mubasher.
Turnover grew 24.75% to SAR 7.146 billion compared to SAR 5.73 billion on Sunday, while traded volume increased 22.59% to 477.94 million shares from 389.88 million shares yesterday.
The optimism in the market was supported by high traded volume and new liquidity; as the level of liquidity in the last five sessions reached SAR 6.3 billion, compared to SAR 3.4 billion in the preceded five sessions, the analyst said.
The Real Estate Investment Trusts sector (REIT) hiked 10%, backed by Riyad REIT which surged by the same percentage.
The media sector came on the second place after printing and research increased 10% and 9.92%, respectively.
On the other hand, the industrial investment lost 3.01%, followed by the retail and multi-investment sector which decreased 2.6% and 2.23%, respectively.
The petrochemical and banks sectors also shed 0.74% and 0.15%, respectively.
Mouwasat Medical Services dropped 9.48%, followed by National Medical Care Company and Abdul Mohsen Al Hokair Group for Tourism and Development which fell 6.56% and 6.36%, respectively.
The analyst expected the market to show a horizontal performance awaiting new catalysts, added that the market took an upward trend, which is a positive indicator for the investors' expectations for the future of the companies and the market.
Translated by: Sara Ghali
