An expected calm on the Saudi Stock Exchange after the outcome of the banks is recorded

The quiet pace is expected to continue in the Saudi stock market at the beginning of the week’s transactions, after investors have recorded the positive results of the banking sector to turn to new sectors such as energy and petrochemical, pending business results. The “Tassi” index ended last week, a small rate of 0.15%, with 12433 points, to continue its increase for the fourth week in a row with the support of the public aid programs, basic material and communication sectors. “Despite the calm of the trading last week, it had some good indicators of the short term. More than 80% of the shares listed in the index, Tassi, have been trading for a period of 50 days, which is a positive indication of the momentum during the short term, but it depends on the results of the work of the rest of the business,” according to Mohamed Adel, ” “East”. The suffering of petrochemicals is on its way to the eyes of “Saudi Aramco” with heavyweight in the market, after falling by a slight rate of 0.15% last week, with oil prices dropping due to Trump’s customs. The company is scheduled to announce the results of its business on March 4. “Oil prices have not improved significantly, and we do not expect there to be significant growth in the profits of Aramco. But the share is greater affected by cash distributions, so distributions may generally support the market” Ahmed Al -Brashid. Oil prices fell for the third week in a row, amid increasing fear that customs duties imposed by US President Donald Trump would lead to a decrease in crude oil demand, which would be completed at $ 74.66 a barrel on Friday, March’s delivery contracts, and the West Texas intermediate crude. Also read: Oil prices country for the third week amid the concerns of the war war. The company employed in the petrochemical sector announced the growth of its annual profits 79% after the opposite of the awards, but the results came below average expectations. Al -Rasheed believes that “the petrochemical businesses generally suffer from low prices and sales, and their shares are not expected to achieve remarkable performance at the moment, which appeared in the results of the Saudi group.” The results of “Aqua Power” are also awaiting the market results in “Aqua Power”, which rose 0.8% last Thursday. Analysts expect Aqua Power’s profits to reach an average of 27.7% for the last quarter of 2024 with 419 million Riyals, according to the “financing numbers” data. The profits fell 17.6% in the third quarter, with the cost of developing projects and increasing public and administrative expenses. Al -Rasheed said that Aqua Power share has a major impact on the market, “This is the third largest company in terms of market value, and the arrow trades with high wealth, and there is great hope that customers are in the market because the company is in the process of growth. In the event that the results do not reflect the high growth rates, there is no doubt that it will not push the stock.”