Saudi shares await the return of foreigners and the results of the last quarter of this year

The most important Saudi Market Index got rid of a series of losses that extend three consecutive sessions after the rise yesterday, Sunday, with the return of the positive shares of public utilities, banks and insurance companies. The increases were accompanied by a marginal improvement in the values ​​of transactions, but they are still 42% less than their daily average during the past three months. The market will now focus on the shares of the real estate sector, after reaching the highest rise between the market sectors on Sunday, on Sunday, which coincides with the momentum of the sector businesses for projects, land sales and partnerships. The shares of “Riyadh rebuild” have risen near the daily maximum of 10%and have reached its highest levels since 2005. Ahmed Al -Rashid, the financial analyst in the newspaper “Al -iqtisadiah”, referred to the various agreements and projects announced by the company, ranging from logistics, recreational and residential, which were to interact the positive investors with the stock. The market will monitor the shares of “Retal for Urban Development”, “The City of Economic Knowledge” and “Dar Al -Arkan”, with the proceeds of the positive businesses in the property sector, which recorded heights between 2.6% and 6.2%. Insurance companies at the lead, and the shares of insurance companies increased jointly yesterday, with the top of ‘Borouge Insurance’, ‘National’ and ‘Midgul Insurance’ with an increase between 4.6%and 9.96%. The increase coincides with the end of the subscription to the increase in the capital of the “Saudi return” business today, Monday, with 30%, awarded to the “Public Investment Fund”. Despite the positive closure of the “Tassi” index, Mary Salem, the financial analyst of “Al -Sharq”, expects the market to continue its cross movements amid the high geopolitical risks and the fluctuation of oil prices, which still affect the sectors of the largest relative weight in the wave markets. “Investors are awaiting the news of companies and in the absence of incentives, whether in improving oil prices and the calm geopolitical tension, the markets will remain as it is especially for foreign investors,” according to Salem. Salem expects the anticipation of the market to remain in charge of the market until the results of the fourth quarter of 2024 appear.