A slight decrease in the Saudi Stock Exchange amid the focus on the basics of the market

Investors in the Saudi stock market have returned to focus on the basic factors of companies, with the momentum to announce the financial results of companies for the second quarter, amid a noticeable concentration in the growth sectors. The general index of the “Tassi” market expelled its morning profit to end the Sunday session on a slight decrease of 0.2% at 11252 points, with the support of the banks and communication sectors that caused a balance in exchange for the pressure of energy sectors, public facilities and basic material. The shares of “Al -Rajhi Bank”, “Al -hly Bank” and “Maaden” have increased in exchange for the decline in the shares of “Aramco”, “Sabic” and “Aqua Power”. Junaid Ansari, director of the Department of Investment and Research Strategy in Kamco Infost, believes that the consistency of the index over the past eight sessions indicates that the market awaits incentives such as the financial results of the listed companies. About the influence of the market on external factors, especially the US trade war, Ansari said in an intervention with ‘Al Sharq’ that ‘the Saudi market remains isolated from the effects of US commercial policy, because this policy is expected to apply to countries that have a surplus with the United States.’ Mary Salem’s financial analyzes of Saudi businesses, Mary Salem, believe that the performance of the market in the current stage will be largely dependent on the financial results of companies “which, if we have a large momentum, can say that the market reflects its direction, and the positive morale begins to return to investors.” Analysts expect the banking sector to continue to lead the market amid optimism over the results of the listed banks. In the second quarter, the CI Capital Master expected the growth of the profits of Saudi banks by 14%, leading to the growth of gains in the Gulf region. Capable organizational decisions The Capital Market Authority announced on Thursday the adoption of a number of organizational amendments, including current or former Golf States residents to invest directly in the Saudi stock market, in a move that will increase liquidity and attract more investors to the market. During an intervention with “Al -Sharq”, Mohamed Farraj, head of the asset management in “financing profit”, said that the decision would give the market a depth and increase the liquidity and diversity in the market, as investors are not expected to focus on a specific sector. ” Aqua Power shares, Aqua Power part 2.4% in the last days of the subscription period in priority rights to increase the capital’s capital about 7 billion Riyals. Financial analyst meeting Mansour is of the opinion that the stock is subject to acute fluctuations in the short term due to the high repetitions of profitability, but it undermines positive expectations in the long run, after the stock has risen by about 8% over the past few sessions.