By Mohamed Abu Meleeh
Riyadh – Mubasher: Saudi Stock Exchange (Tadawul) lost most in fourteen sessions, as it shed 79 points, or 1.08% on Thursday.
Thus, the main index reversed an uptrend seen in the last two sessions.
Meanwhile, the market liquidity jumped to its highest levels in three months, as it reached SAR 6.46 billion.
The market trend was weighed by news that OPEC may not decide to cut output of member countries in an exceptional meeting tomorrow.
Russian Energy Minister Alexander Novak on Thursday said he did not expect any changes in oil extraction quotas during the next OPEC session.
“I honestly don’t expect that there will be any cardinal changes or decisions that will be made during the OPEC session. We don’t see any precursors for this, but of course, it would be expedient for OPEC to observe the same quotas they have set,” Novak told journalists.
The real estate sector was the biggest loser (-2.32%), followed by industrial investment (-1.87%). Petrochemical industries was also down by 1.68%, followed by banks (-0.96%) and telecoms (-0.40%).
Three sectors were in green, led by multi-investment (+0.99%) backed by Kingdom Holding that jumped by 4.6%. KHC stock saw a put-through transaction worth SAR 562.5 million at SAR 18.8 per share.
Hotel and tourism sector also rose by 6.5% supported by Al Tayyar that rose by 9.57%. Media and publishing gained 5.38% after SRMG jumped by 9.68%.
Thursday’s traded volume rose by 5.8% to 291 million shares from 275 million shares. Turnover also increased by 9.5% to SAR 6.46 billion to SAR 5.89 billion.
Translated by Sayed Abdel Rahman
