By: Thabet Shehata

Riyadh – Mubasher: The Saudi stock market (Tadawul) saw a negative performance during the week ended 28 July, posting its biggest downward trend in more than five months since February.

The benchmark index of Tadawul fell by 4% or 265.4 points to reach 6,335.59 points this week as compared to 6,601 points a week ago.

Market cap shrank by SAR 52.43 billion ($13.98 billion) to SAR 1.47 trillion ($391.94 billion) this week as compared to SAR 1.52 trillion ($405.92 billion) in the previous week.

Liquidity shrank by 9.2% to SAR 16.6 billion from SAR 18.29 billion a week ago, while trading volume decreased by 4.4% to 945.6 million shares from 989.5 million a week ago.

The telecom sector led the decliners by a 7.37% fall, dragged by Mobily which dropped 13.56% to SAR 24.73.

Tadawul’s banks sector retreated by 4.76% over the week after Al Rajhi Bank lost 4.56% to SAR 56.54. 

The petrochemical sector fell by 3% as Sabic lost 1.24% to reach SAR 82.21.

Aseer Trading led the losers by a decline of 16.3% to SAR 15.9, while Al Sagr topped the gainers by a rise of 13.2% to reach SAR 45.09.

Al Inma was the most active stock on which 187.2 million shares were exchanged. The stock retreated by 3.73% to SAR 13.16.

Sabic recorded the highest trading value that stood at SAR 2.7 billion.

Translated by: Ingy ElSafy