The Saudi Stock Exchange closes low with the decline in most leadership sectors

The General Index of the Saudi Stock Market ended today, Tuesday, a decrease to trading in a narrow scope, affected by the decline in most leadership sectors, but the rise of “Aramco” has led to the energy sector reducing losses. The “Tassi” index fell 0.6%to close at 11706 points, with the sub -indicators of the banks, basic materials and communication sectors dropping between 1%, while the energy sector index rose by 0.56%. Under the leadership shares, the price of the ‘Al -Rajhi Bank’ share, which has the largest relative weight on the index, fell 1.6%, while the price of the “National Saudi Bank” share dropped about 0.3%and lost the “Sabic” share 0.16%. On the other hand, the price of the “Saudi Aramco” share increased by 0.6%, and Aqua power increased by 0.24%. “Morale in the market will remain under pressure during the upcoming period due to customs duties that will start working on April 2. The fluctuations in the market may continue for a month or two.” Aramco shares are still climbing, Aramco’s giant, Aramco, has continued to climb up to its 3.5% profits over the past three sessions. Arour believes that the rise of Aramco is more related to macro -economic factors than assessments or news in the market. “Oil prices have been carrying over the past few days, and the solution to the war of Russia and Ukraine can take time and there are sanctions that America has imposed on other countries, specifically on oil exports. These cases lead to high oil prices and Aramco is strongly related to oil prices and this leads to the rise of Aramco’s share,” Araora said. The momentum in the arrow of “Umm al -qura” delayed the share of “Umm al -qura for development and construction (mass) 7.7% today on the second day of its circulation, after the increase in the maximum of 30% in yesterday’s session. Ahmed Al -Brasheed, the first financial analyst at the” Al -iqtisadia ” is logical because the subscription price reflects the fair value that the institutions see, as well as individuals for the share.