Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) reversed its seven-week gaining streak during 11-15 December to register the first negative performance this month on the decline of twelve main sectors.
The main index lost 27 points or 0.4% to decline towards 7,090.91 points, compared with 7,118 points last week.
The market delivered a positive performance early this week, but talks about higher US interest rates dragged the trading activity later on, said financial market analyst Ahmed El-Sherif, expecting the bourse to improve next week if the main index steadies above 7,100 points.
Market capitalization slightly fell to SAR 1.659 trillion ($442.4 billion) from SAR 1.661 trillion ($442.85 billion).
Trading value stood at SAR 30.15 billion ($8.04 billion), lower 24% week-on-week from SAR 39.67 billion ($10.58 billion).
On the other hands, volumes decreased 24% to 1.72 billion shares, compared with 2.3 billion shares a week earlier.
Sector-wise, the hotel market topped the worst performers as slides 4% on Al Tayyar (-5.36%).
The petrochemical mark moved down 0.6% after SABIC and SAFCO lowered 0.4% to SAR 94.44 and 3.3% to SAR 75.21, respectively.
On the positive side, four sectors headed the gainers with the energy market on the top after moving up 3.72% on Saudi electricity (+3.3%) and National Gas (+4.5%).
The banking sector achieved the lowest weekly gains, ending the week 0.9% higher on Al Rajhi and the National bank that advanced by 1.1% and 0.5%, respectively.
Aseer was the best performer with a 7.8% rise, while Alujain with slide of 13.2% led the losers this week.
In terms of volume and value, Dar Al Arkan was the most active stock with 455 million shares traded at SAR 2.79 billion. The stock quote fell 3.9% to SAR 5.98.
