Saudi stocks closed lower, and hit a 7-week low

Saudi stocks closed lower, and hit a 7-week low
Saudi stocks closed lower, and hit a 7-week low

The Saudi stock market ended the day’s session down by about 1 percent, as the leading stocks pressured the general index movement, especially the shares of and Saudi Electricity, and the general index remained below the average of 50 days, while the performance of small stocks varied.

Regarding the performance of the stocks most influencing the market movement, Saudi Aramco shares fell by 0.9 percent, then the shares of Saudi Electricity and Jabal Omar came with declines of 3.7 percent and 2.3 percent, respectively, while Maaden’s shares declined by 2.6 percent.

The shares of Samba Bank and Al-Ahly Commercial Bank came by 1.8 percent and 1.2 percent, respectively, while Jarir shares rose by 1 percent.

The market ended the trading session today at the level of 8123 points, recording a decline of 76 points, or the equivalent of 0.93 percent, and the session witnessed trading of about 7.96 billion riyals, amid the circulation of 319.8 million shares, through the implementation of 388 thousand transactions.

Regarding the stocks that rose most in the market during today’s session, the shares of 3 companies rose at the highest level, namely (Anaam Holding, Zamil Industrial, and Refineries), followed by shares of Shams 6.9%, among the 30 companies whose shares are traded in the Green Zone.

On the other hand, the shares of 162 companies, led by Solidarity Takaful, fell by 6.6 percent, and Al-Hokair Group shares also fell 6.3 percent after the company announced a net loss for the third quarter amounting to 109.3 million riyals compared to a net loss of 15.5 million for the same period last year.

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