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Saudi stocks records loses of SR97.6 billion over a week

Saudi Stocks

The Saudi stocks market (Tadawul) has ended the weekly trading, with a significant decline, to record losses after rising for about 6 weeks in streak.

The decline is referred to direct pressure from three major sectors, and liquidity has decreased compared to the previous week.

Last week, the Saudi Financial Market General Index (TASI) decreased by 0.72%, after losing 68.25 points, reaching 9,417.71 points, compared to 9,485.96 at the end of last week.

Data showed a loss of market capital of about SR97.55 billion, as a result of which the market value of listed shares fell to SR9.248 trillion, compared to SR9.345 trillion in the previous week.

Saudi stocks

The results are attributed to the losses suffered by the market to the decline in ten sectors, led by the banking sector, with a decline of 1.08%, the decline in the basic materials sector by 1.35%, in addition to a decrease in the energy sector by 0.69%.

The remaining sectors came in green, led by the pharmaceutical sector, achieving an increase of 3.29%, while the telecommunications sector ended the trading week ending on 25 March, up 0.43%.

Last week, trading values ​​decreased by 28%, to reach SR47.4 billion riyals, compared to SR65.85 billion riyals last week, due to the decline in the volume of trading to 1.55 billion shares, for 2.5 billion shares, in the previous week, down 38.16%.

According to the financial market data, and in terms of stocks performance, Alinma Tokyo share achieved the highest gains, rising by 18.59%, while Saudi Union share suffered the largest losses during the past week, after declining by 7.3%.

The NOMUC index ended its weekly transactions, in the parallel market, with a decline of 3.06%, thus losing about 749.25 points of its value, bringing the index to the level of 23,756.08 points.

Trading in the parallel market decreased, by SR125.3 million, compared to SR148.89 million last week.

Keep reading: Jobs Decline In Saudi Arabia Lowers Purchasing Managers’ Index


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