Banks lead the Saudi Stock Exchange to the highest daily leap in a month

The banking sector led the indicators of the Saudi Stock Exchange to record the largest daily leap in 30 days, with successive financial results that were better than expectations for many listed banks. The “Tassi” index rose by almost all sectors by 1.3% to 10983 points at the end of the trade today, while the bank index rose 1.7% by the “Al -Rajhi Bank” arrow, which rose 1.1%. A total of 206 shares rose against a decrease of 44, amid a slight improvement in liquidity to 5.3 billion Riyals. Ahmed Al -Rasheed, the first financial analyst in the newspaper “Al -iqtisadiah”, attributed the improvement in liquidity to ‘speculation’ on the arrow of the new expatriates ‘clubs for sports’, and notes that the lack of export of shares forms with a relatively low market value of the company. Speculations on the ‘Clubs for Sports’ arrow closed the share of ‘Clubs for Sports’, approximately 19%higher, and continued to climb to the second session in a row, after ending the 24%trading yesterday, contrary to the trend of just included shares in recent times. During an intervention with “Al -Sharq”, Al -Rasheed pointed out that the behavior of traders to the share of “Clubs for Sports” indicates that the market “focuses more in the short and non -long term” with the recycling of about 70% of the company’s shares. More good results for banks, the number of Saudi banks listed, of which the results eight announced, with the announcement of both “Al -Arabi”, “Al -Bilad” and “Saudi investment”, the growth of their net profits during the second quarter of the year by rates that exceeded expectations. Waddah Al -Taha, a member of the National Consultant Council (CISI), described the results of the banks for the second semester as’ healthy ‘, as’ growth was caused by basic operational operations and capital gains was not predominant. I think this rhythm will continue, as the sector is the most important arm to implement the kingdom’s vision. The Financial Analyst Meeting attributed the reflux of the index in the contemporary session to the results of the sector, which he described as ‘the most important supporter, especially in an environment characterized by high interest rates’, but he pointed out that ‘sales pressure exists and we will not be said to climb in the coming days.’ In the context of the results, the ‘Yanbu Cement’ announced its profits of about 46% in the three months to the end of June, but the arrow reduced its losses, which amounted to about 2% earlier to close the small change.