The Saudi stock market records its highest losses since May, amid...

The Saudi stock market records its highest losses since May, amid...
The Saudi stock market records its highest losses since May, amid...
Riyadh – Mubasher: The Saudi stock market, Tadawul, ended today’s session with a noticeable decline, registering its highest losses since last May, amid an almost collective drop in stocks.

And the general market index “TASI” closed down 4.12%, which is the highest pace of decline for the market since the session of last May 3, losing 350.59 points of its value, falling to the level of 8,154.59 points.

Collectively, the sectors declined, led by “banks”, which fell 1.87%, the energy sector declined by 2.57%, and the basic materials and communications sectors recorded a decline of 5.44% and 4.69%, respectively.

Today, Sunday, Al-Rajhi Bank and SABIC announced the results for the third quarter and first nine months of 2020.

Al-Rajhi decreased in net profits by 2.96% during the third quarter of 2020, on an annual basis, to 2.66 billion riyals, and the nine-month profit fell 4.68% to 7.47 billion riyals.

SABIC increased its net profit in the third quarter of 2020; By 47.3% to 1.09 billion riyals, and the company incurred net losses of about 2.18 billion riyals in the first nine months of 2020.

And the “Al-Rajhi” share, the highest in weight in the index, closed 1.19% to 66.2 riyals, and SABIC fell 4.51%, reaching the level of 93.20 riyals from the close.

And the trading values ​​of the Saudi stock market rose, by the end of the Sunday session, to 9.24 billion riyals, through 364.1 million shares, compared to 8.06 billion riyals through 324.88 million shares, by the end of last Thursday’s session.

Regarding the performance of stocks, the Saudi market witnessed a decline of 195 shares by the end of trading, and the green color was limited to 3 stocks.

15 stocks fell by the maximum limits (10%), and a large number of stocks approached the maximum limits of decline.

In contrast, the newly listed “Bin Dawood” led the gains, up 10%, and Anaam Holding and Printing and Packaging rose 0.8% and 0.26%, respectively.

With regard to the parallel market, the index (growth of an upper limit) ended its dealings, down 9.95%, with losses amounting to 1,532.97 points, falling to the level of 13,881.02 points.

National Building and Marketing shares topped the losses, down 16.58%, followed by “developmental food” by 15.94%, and the market did not witness any high shares at the close.

The general index of the Saudi stock market ended last Thursday’s session, up by 0.1%, after it corrected its conditions at the end of the session, with the support of the telecommunications and banking sectors.

Nominations:

The National Labor Observatory in Saudi Arabia: The percentage of Emiratisation in the private sector rises to 21.5%

Saudi Arabia recorded a trade surplus of 18.39 billion riyals in August

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