Corporate news and selective transactions move the Saudi Stock Exchange

The Saudi Stock Market Index has begun today’s transactions on a decline, although slightly, after the rise during the past two sessions, with selective transactions that continue in the market that depend mainly on the corporate news. The “Tassi” index fell 0.2% to 10874 points, with the shares of “Aramco” and “Al -Rajhi Bank” – the two largest shares on the index – as well as “Aqua Power”, against the rise of “Sabic”. Ikrami Abdullah, the chief financial analyst in the newspaper “Al -iqtisadiah”, believes that the market has benefited from optimism based on positive advertising of companies during the past two sessions, including the increase in “Aramco” production that would improve turnover, as well as optimism about reducing US interest rate. During an interview with ‘Al -Sharq’, he pointed out to the existence of a selective purchase in the second quarter sectors, such as real estate development, communication and healthcare ‘, which is expected to support this liquidity in the short term. Traders based on corporate news The share ‘printing and packaging’ increased by 2.4% at the beginning of the transactions, after the company announced the adoption of a new strategy aimed at improving the conditions of the company that incur losses. According to the announcement of the company today, the new strategy is based on 5 axes aimed at maximizing sales efficiency to reduce costs and go out from non -strategic sectors, in addition to debt restructuring. Mohamed Al -Maimouni, the financial adviser of the ‘Arab trader’, indicated that the company had a prolonged challenge, which negatively affected it, and led to an exacerbation of its losses to 62% of capital. ‘ He added during an interview with ‘Al -Sharq’ that ‘the company will now not only increase sales, but also to reduce its costs in a way that will lead to the promotion of profitability, as well as the exit of the non -strategic sectors and focus on the markets of the Kingdom and the Gulf, which are characterized by high demand. ” Among the other shares paid for companies’ news, the ‘Salama’ Cooperative Insurance share continued its rise for the second day after the company announced the signing of a binding agreement to obtain ‘care’ for insurance in the stock exchange.