"Tassi" regains the level of 12 thousand points at the end of the month trading

The General Index of the Saudi Stock Market has strengthened its profits for the second consecutive session today, Thursday, above the level of 12,000 points, supported by the rise of the shares of the basic material sector, and scored the profits for the second week in a row. In the last trading session a week before Eid Al -Fitr, Tassi closed by about 0.46%to 12025 points to reach its weekly profits by 2.25%, but he traded in March, fell by 0.72%. The value of trading is 5.9 billion Riyals, which corresponds to the average for three months. All leadership sectors in the market have increased, the basic materials, which increased by 1%, while the banking sector rose 0.2%, energy 0.4%and contact by 0.6%. Under the leadership shares, the shares of the giant oil “Aramco” rose 0.4% to 26.75 Riyals, and the price of “Aqua Power” rose 0.12% to 343.2 Riyals, while the “Sabian” shares fell 0.5% to 63.7 Riyals and the “National Bank” by 0.3% to 35.85 Riyals. The price of the “Al -Rajhi Bank” share, which has the largest relative weight on the index, stabilized, unchanged at 102 Riyals. Ahmed Al -Rasheed, the first financial analyst at the newspaper “Al -iqtisadiah”, believes that the closure of the day reflects an improvement in the morale of clients before the Eid holidays, in addition to some opportunities in the past periods. In an interview with “Al -Sharq”, Al -Brashid added: “This positive closure reflects that there is a positive vision of the market direction after returning from the leave. There may also be some kinds of opportunities from the recent declines to keep the shares in the holiday period and then get good profits after the market returns to the trade.” The banks stocks still support despite its volatile performance during the week’s sessions. The banking sector still supported the general index of the market for the second day in a row after 3% jumped in the last session. Al -Rasheed pointed out that “the banks play a good role in the market movement, perhaps as a result that it is the least of the market’s profitability, there are also good developments found in the sector, according to news that appeared on Bloomberg that there is an upset debt in some banks.” Saudi banks are studying, led by the ‘National Bank’, to remove the loans that are not operated from their books through management offers, and it is expected that the first major sale of this year, according to what Bloomberg quoted. It will provide an extra lending field to support the ambitious development initiatives of huge projects in the kingdom. The Saudi Investment Minister Khaled Al -Falih indicated in a discussion session during the “Financial Markets Forum” in February that the Kingdom should work on the accumulated loans in the budgets of banks and regain it. The sector share also benefits from the high oil prices that support the public finances of the kingdom as a whole, according to Waddah Al -Taha, a member of the National Consulties Council of the “CISI” institute. Brent -Ruolie trades near $ 74 a barrel, after closing 1.1% on Wednesday, while the West Texas intermediate dropped to below $ 70 a barrel. In an interview with “Al -Sharq”, Al -Taha said: “Oil prices do not just affect the shares of the energy sector, as Saudi Arabia is an oilland. The stability of oil prices gives the markets relief because it is linked to public finances.” He added: “Saudi banks will be the least affected by the Gulf Collaboration Board’s banking sectors if the interest is raised. It will also benefit from the current situation in 2025 … especially as the stability of interest or tendency to decline does not affect the profitability of companies, but it can lead to an increase in the rate of the session or loan requests to implement some related to the Kingdom’s vision. ”