The Saudi Stock Exchange is increasing amid the attraction between the absence of local stimuli and a positive external atmosphere

The Saudi Stock Exchange has risen slightly in the first trade session to Eid Al -Aadha, amid an attraction between the absence of the local basic incentives sufficient to reflect the general direction of the market since last month, and a global positive atmosphere after the US president announced an agreement with China over customs. The most important Saudi market index, “Tassi”, closed about 0.5% to 11005 points, led by the banking sector, while 11 out of the 20 sectors rose. The index received support from the rise of the shares of “Aramco”, “National Saudi Bank”, “Al -Rajhi Bank” and “Sabic” while Aqua Power fell. The session was characterized by fluctuation, as the index rose by 1.6% at the beginning, and then dropped to decline afterwards before it closed on a rise. A lack of strong stimuli, “I think the Saudi index is still weak, the sale is led by Aqua Power, which did not resist a sales pressure. We approach the summer holidays amid a lack of incentives. According to Nishit Lakhotia, head of the research department at Sico Bank. -Ars, Brent -Ru oil can be prone to a falling road due to the rise in stocks … If prices fall to the level of $ 60 a barrel, the market may be subject to printing. Especially companies that are expected to perform better in the next year. Youssef Youssef, the financial analyst and lecturer in financing and investment, said in an intervention with ‘Al -Sharq’ that the shares of Saudi banks are currently attractive, as the banking sector trades at profitable repeated repetitions of ten times, which is much less than the average repulsion of the 18.5 times. A negative move to the share of ‘Aqua Power’ ‘There was no fundamental news during the EID holiday that would affect the basic path of the market, which tends to decline since May and the beginning of this month, actually the purchase momentum at the beginning of the session did not have a specific reason behind; Liquidity and therefore it is influenced by any demand for sale, even if at an average pace, “According to Thamer Al -Seaed, CEO of Investment at BLME Capital KSA. Al -Saed added that the movement of the banking sector and the propensity of the Arab national share to drop to the reduction of the US president Donald A trade agreement with China regarding customs duties, has already replied: “The market has already taken into account that a trade agreement between the United States and China is reached as the Geneva concept is reached … The Saudi market is indirectly related to the customs crisis by influencing oil and petrochemicals.