The Saudi Tassi index takes its breath after completing it the longest monthly losses in ten years

The most important index of the Saudi Stock Exchange “Tassi” closed low in the first sessions of the third quarter of the year, after the highest monthly loss series in ten years in June. “Tassi” fell 0.4% to the level of 11121 points, influenced by the decline in important sectors such as banks, communications and public facilities, but the heavyweight energy sector is limited to the losses on the index. The performance of the leadership shares varied as the shares of “Aramco”, “Al -Rajhi Bank” and “Sabic” increased, while the shares of “Aqua Power” and “Al -Aahly Saudi” fell. During a meeting with “Al -Sharq”, Ahmed Al -Rashid, the first financial analyst of the newspaper “Al -iqtisadiah”, considered the relatively low drop, and the performance of the performance with the shares of more than 100 businesses during the session, citing a type of cohesion in the market, and to increase a room with the target of 11300 points. During February, the Saudi Market entered into a drop that lasted over the next four months to record the longest series of monthly losses since 2014, during which the index lost about 1425 points. But morale in the market began to recover during the last week of June, with the announcement of the ceasefire between Israel and Iran. Stay tuned for the return of commercial tension. Analysts say that the market is still vulnerable to fluctuations this month, which will see the return of trade tensions to the surface with the end of the deadline for the application of US customs duties to most countries of the world on July 9, as well as awaiting the FBI decision on interest. But Ibrahim al -hindi, a researcher at the ‘Arab Market Research Center’, who is expected in a meeting with ‘Al -Sharq’ a kind of balance in the market, with the announcement of the companies of their financial results, which expected a positive impact on the market. Aqua Power shares are declining after the capital is increased, the shares of ‘Aqua Power’ have dropped to the increase of more than 4% in the early trading, in collaboration with the decision of the company’s shareholders to agree to raise capital by issuing priority rights of 7 billion rows. Junaid Ansari, director of the Department of Investment and Research Strategy in Kamco Infost, believes that Aqua Power is at the forefront of the transformation process within the “Vision 2030”, one of the companies that can see and benefit from the long time. He added that “the issuance of priority rights stocks will reduce investors’ concerns about the high percentage of debt to the company’s ownership,” which is the most important factor that has recently affected the share. The company is a decisive element in its plan to increase annual spending on projects to reach $ 2.5 billion, and Aqua seeks to expand countries such as China, Malaysia and Turkey, as well as to increase its capabilities in the kingdom to support Saudi Arabia to reduce carbon emissions by investing in solar energy, wind and green water. In a submission, the company indicated that it intended to grant between 75% and 85% of the exemption revenue to finance completely new projects, while the remaining part will be used in acquisitions and integration transactions. The new subscriptions continue despite the geopolitical tensions that have affected the performance of new shares in the market in recent times, the momentum of the new public subscriptions is still underway in the market. “Sports Clubs” business today set the final price of its first year offer at the maximum price range, at 7.5 Riyals per share, which targets more than 257 million rows to offer a 30%stake. The coverage of the offer assigned to institutions reached the offer 44.1 times, according to the “Saudi Fransi Capital” business, which plays the role of the financial adviser, the coverage contractor and the director of the institution’s subscription record. At the same time, ‘Riyad Bank’, the third largest bank listed in the Saudi financial market, announced a feet in the course of the initial offer of its investment arm, ‘Riyadh Financial’ in the Stock Exchange, to submit a request to get the regular approval of the subscription. However, Ahmed Selim, the investment manager at the “Bayader Investment” business, pointed out that the current time is not the most suitable for the new proposals “in light of the continuation of the condition among investors in the market, which appeared in the lukewarm performance of the shares of companies recently included, such as” Flynas “and” Specialized Medical ” -Sharq ‘said that’ investors are still in caution and are not fully convinced of the stability we see in the region.