Careful optimism in Saudi shares as it approaches an important level of resistance

The Saudi Stock Exchange has the second test in less than a month for a level of 12200 points, amid a momentum in trade values ​​yesterday, the highest level in about two weeks, at a time in which world markets await important economic data that can affect the performance of some of the companies listed in the kingdom. China will announce the reading of the consumer price index on Thursday, amid pessimistic expectations of a positive response to the government’s motivational efforts, while India today will reveal its estimates of economic growth for the current financial year with increasing concerns about poor consumer spending. China and India are one of the largest commercial partners of Saudi Arabia, and the market will monitor the interaction of investors with data, especially leadership shares, led by Aramco and Sabic. The average series, Mohamed Al -Farraj, the first head of asset management in Capital’s Wints, is expected to see a medium -term medium term recovery, and the “Tassi” index can be more than 12400 points. “The expansion spending plans for Saudi Arabia pay fruits over the contributions of the non -oil sector, the share of which increased to 39% of turnover compared to only 9% in 2009,” according to Al -Faraj. Optimism about the performance of the stock market can also be supported by the expectations of reducing interest, as “Al -Farraj” excluded that the White House has undertaken with policies that will harm economic growth with the assumption of President Donald Trump, whether with regard to immigration or the strong dollar. The proceeds of the momentum of liquidity on Saudi shares and with the acquisition of Saudi shares gradually reflect momentum, which is reflected in the values ​​of the market trading yesterday, which recorded more than 6 billion Riyals for the first time in about two weeks, and it is about 10% higher than the average market trading, and the seizure of the past 3 months. be attention from customers. The “Tassi” index reduced its profits by 20 points yesterday during the closing session to end at 12105 points on Monday, just 0.3%. The market will monitor the arrow of ‘Saudi yield’ during contemporary intercourse, with the high values ​​of transactions on the share to more than 200 million Riyals, which led to him with the ‘Aramco’ and ‘Al -Rajhi Bank’ to the peak of the values ​​of trade despite the drop of 2%. have. Barriers to the continued emergence of the shares, seed already seed, a member of the International Federation of Technical Analysts “IFTA”, believe that the market is still moving in a transverse range, but the high trading values ​​are a good indication of the return of optimism. “The rise of the Tassi index has several challenges, the most prominent of which will be the results of companies for the fourth quarter, the expectation of installing US chief Donald Trump, and the pressure that leadership supplies are exposed as a result of oil prices and petrochemical materials.” For his side, ‘Al -Rajhi Financial’ expected the revenue to compile with about 6% for Saudi businesses during the fourth quarter of 2024, while the profits could make a growth of two numbers. She wrote in the memorandum last Thursday that all market sectors are a candidate to achieve strong profits growth, except for ‘petrochemical’, ‘facilities’ and ‘energy’, especially drilling businesses and business services. The healthcare sector welcomes a new member of the healthcare sector that will be the attention of clients today, with the beginning and trading of the ‘Al -Mousa Health Company’ arrow, with the boundaries of 30% on the 127 Riyals subscription price. While the market awaits the announcement of the start of the inclusion and trading of ‘Nice One’ shares after the subscription surpluses are returned and allocated the shares to individual subscribers.