The Saudi Stock Exchange Fly for the highest weekly profits for more than two years

The most important Saudi Market Index ended this week’s transactions with a strong increase of about 4.3%, which recorded the biggest profits since the week ended on March 23, 2023, when it climbed 4.7%, ie more than two years ago. The index received remarkable support from the profits of leadership shares, led by Al -Rajhi Bank, Aqua Power and the Saudi National Bank. Aramco’s share – the largest in the index – also saw about 0.7%for the first time this week, reducing its weekly losses. During the contemporary session, the index began trading with minor declines, before gradually reflecting his course in the middle of the session to close at the peak of the week at the level of 11068 points. After dropping 3.4%in the first trading session yesterday, the shares of the specialized medical company saw heights at the beginning of the trade today, but it returned to the decline in closing a similar rate for yesterday (3.3 %%) to record a drop in the second trade session in a row. Ahmed Al -Rashid, the first financial analyst in the newspaper “Al -iqtisadiah”, said in an interview with “Al -Sharq” that the weekly profits recorded by the market index, with the most important support of the heights of the Monday and Tuesday sessions, which gave a strong boost to the penetrating important technical levels. He explained that the index was expected to test the levels of 10840 points, and then closed the barrier of 11,000 points, which is a positive technical indication of the possibility of getting out of the downward path. “In the event that the market maintains these levels early next week, we can see about 11400 points,” he added. As for the performance of Aramco, Al -Rasheed pointed out that the stock of the stock during the contemporary session is positive after the recent wave of retreats to which it is exposed, and it could be a possible reflection signal. But he warned that the artistic image of the inventory is still unstable, and emphasizes the importance of stabilizing oil prices and drops in the dollar, which will support the high prices of commodities lying in dollars, including Aramco’s share. Majed Al -khaldi, the first financial analyst in the newspaper “Al -iqtisadiah”, said in an interview with ‘Al -Sharq’ that the index recorded it last week, during which he managed to strengthen the momentum within the market. Al -khaldi pointed out that there are indications of the reflection of the downward path that began last February, indicating that the importance of the level of 10800 and 10850 points was closed this week, as a supporting factor for the continued improvement during the next week. He emphasized that the results of companies and expectations of experience houses to perform the second quarter of the year 2025 will be the most important factor to direct the market movement during the next short period.