MALATH INSURANCE
8020
8020
LIVA
8280
8280
BATIC
4110
4110
WALAA
8060
8060
SHARQIYAH DEV
6060
6060
Saudi bourse’s benchmark TASI fell 0.01% or 5.69 points last week to reach 11062.37 pts, compared with 11063.14 pts a week earlier. Accordingly, the index extended its losses for the second consecutive week after six weeks in the positive territory.
Mohammed Al-Omran, president of the Gulf Centre for Financial Consultancy, told Mubasher in an exclusive that the Saudi bourse, which has witnessed fluctuations for more than three weeks amid a thin turnover, is expected to see calm trading which is ‘healthy’ for the bourse after its gains in the last one and a half months.
Al-Omran added that the decline in trading activity reflects investors’ anticipation of financial results and decisions of land charges.
The market trend will be clear and turnover will increase after the release of financial results, the analyst said, noting that the gauge is likely to resume its rally and hit fresh levels.
The market capitalization reached SAR 2.256 trillion ($601.59 billion) at the end of last week, compared with SAR 2.248 trillion ($532.9 billion) eight weeks earlier. This means that the bourse recorded market gains of SAR 257.59 billion ($68.69 billion), with an increase of 12.89%.
Eight sectors closed in the red, led by multi-investment which dropped 1.77%, followed by real estate development (0.86%) and petrochemical industries (0.68%).
Meanwhile, seven sectors closed in the green, topped by hotels which rose 5.16% and insurance which added 2.82%.
Trading volume declined 15.73% to 1.4 billion shares, compared with 1.66 billion shares a week earlier. Turnover also fell 17.79% from SAR 55.57 billion to SAR 45.68 billion. The number of trades decreased 16.42% from 802.96 thousand to 671 thousand.
Out of the 161 companies traded last week, losers outnumbered gainers by 89 to 73. AXA was the top riser, leaping 25.5%, followed by Walaa Insurance (9.87%), then Malath Insurance (8.71%).
Meanwhile, Al Alamiya was the biggest decliner, diving 6.66%, followed by Sharqiya Development (6.43%) and Mubarrad (5.66%).
(Edited by Mohammed Abu Meleeh, Translated by Abdul Maguid Aboshahla)
Mohammed Al-Omran, president of the Gulf Centre for Financial Consultancy, told Mubasher in an exclusive that the Saudi bourse, which has witnessed fluctuations for more than three weeks amid a thin turnover, is expected to see calm trading which is ‘healthy’ for the bourse after its gains in the last one and a half months.
Al-Omran added that the decline in trading activity reflects investors’ anticipation of financial results and decisions of land charges.
The market trend will be clear and turnover will increase after the release of financial results, the analyst said, noting that the gauge is likely to resume its rally and hit fresh levels.
The market capitalization reached SAR 2.256 trillion ($601.59 billion) at the end of last week, compared with SAR 2.248 trillion ($532.9 billion) eight weeks earlier. This means that the bourse recorded market gains of SAR 257.59 billion ($68.69 billion), with an increase of 12.89%.
Eight sectors closed in the red, led by multi-investment which dropped 1.77%, followed by real estate development (0.86%) and petrochemical industries (0.68%).
Meanwhile, seven sectors closed in the green, topped by hotels which rose 5.16% and insurance which added 2.82%.
Trading volume declined 15.73% to 1.4 billion shares, compared with 1.66 billion shares a week earlier. Turnover also fell 17.79% from SAR 55.57 billion to SAR 45.68 billion. The number of trades decreased 16.42% from 802.96 thousand to 671 thousand.
Out of the 161 companies traded last week, losers outnumbered gainers by 89 to 73. AXA was the top riser, leaping 25.5%, followed by Walaa Insurance (9.87%), then Malath Insurance (8.71%).
Meanwhile, Al Alamiya was the biggest decliner, diving 6.66%, followed by Sharqiya Development (6.43%) and Mubarrad (5.66%).
(Edited by Mohammed Abu Meleeh, Translated by Abdul Maguid Aboshahla)
Source:
Mubasher Exclusive
