05/11/2018 00:37 AST

Foreigners sold a net 89.2 million riyals ($23.8 million) in the Saudi stock market in the week ended Nov. 1, a sharp drop from the previous two weeks when investor worries over the impact of journalist Jamal Khashoggi’s killing prompted heavy selling.

The foreign selling slowed from 2.34 billion riyals in the previous week and a record 4.01 billion riyals the week before when Khashoggi’s killing caused concern about the effects on the kingdom’s relations with foreign powers.

The reduction in selling signalled that many managers are still optimistic about expected inflows into Saudi Arabia of about $15 billion of “passive” funds next year, when the market joins emerging market indexes.

After two weeks of heavy buying, purchases by local institutions eased to 1.44 billion riyals on a net basis.

State institutions such as the Public Investment Fund helped limit a market crash caused by the killing of Khashoggi by indirectly supporting local stocks, using local institutions, Reuters reported on Oct. 23.

The Saudi stock market is up 8.6 percent in the year to date, although it has weakened this quarter.


Reuters

Ticker Price Volume
QNBK 198.00 230,244
APPC 54.80 134,767
SORAYAI 13.78 1,581,986
WALAA 24.58 108,648
CATERING 86.70 124,180
PETROCHEM 26.20 78,537
SPIMACO 29.25 45,366

TASI 3,614.06 -4,792.41 (-57.01%)

Market
P/E
Price/BookValue
Dividend Yield (%)
Performance
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Index vs...
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
SABIC 122.60 0.00 (0.00%)
STC 99.50 1.30 (1.32%)
RJHI 100.00 0.00 (0.00%)
NCB 52.00 0.40 (0.77%)
SAMBA 36.80 0.80 (2.22%)
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