Market officials restore the momentum of Saudi shares .. Will the increase last?

After the largest daily loss in about two months Monday, the Saudi stock market returned to rise with the support of the banking and communication sectors, with the benefit of the Financial Markets Forum and the results of the results of the businesses. The “Tassi” index closed yesterday, about 0.6% at 12333 points, with banks, communications and public facilities in the region of 1.5% for each of them, and this was accompanied by the return of trading values ​​within 3 months. The market also supported the shares of “Aqua Power” 1.9% after the company announced the signing of an agreement to develop the largest wind energy project in the region, with a capacity of 2 GB, in Egypt. After the trade ended, the company said the value of the agreement is 8.6 billion Riyals. But Ahmed Al -Rasheed, the first financial analyst of the newspaper “Al -iqtisadiah”, warned that the market “may find it difficult to overcome the current levels … because the repeated repetition of profitability is large and there is no significant growth in the market.” Supporting announcements were launched yesterday, the Financial Markets forum hosted by the “Tadawul” group in Riyadh, and seen some statements and advertisements that can affect the movement of the market. Al -Rasheed said that the forum came at the right time to be a market for the market and that the Wednesday session could see new statements that would support morale. Also read: The Hong Kong Stock Exchange is looking forward to technological collaboration with Saudi -“trade” and investments of the Sovereign Fund, Saudi Investment Minister Khaled Al -Falih, in a booking session during the forum that the Kingdom must work during the coming months and years to acquire accumulated loans in the bank. to secure and to regain them. “The banking sector is apparently moving in conjunction with the Statements of the Minister of Investment on the allocation of the loan portfolio to banks. There are hundreds of billions (Van Riyals) in the real estate loans and liberalize it to banks. -Rashid. The financial analyst in Al -Eqtisadiah is of the opinion that offering these debts as instruments such as secondary secondary instruments will first help the rise of a new investment market and create a new investment tool, and also restore the liquidity to banks, especially because the loan portfolio exceeds the deposits in many of them. The sector’s shares will be on the radar of customers today, especially the “Al -Rajhi Bank”, which has a heavyweight, which rose 0.9% yesterday and the “National Saudi Bank”, which jumped by more than 4%. Also read: The Saudi Stock Exchange increases access to “growth” and shows a greater openness to the double inclusion in the same context. The Saudi -“Tadawul” has also launched the subscription management system to increase efficiency, transparency and efficiency in the initial public offering operations in the Saudi financial market. In an interview with “Al -Sharq” on the sidelines of the forum, Tadawul Group CEO Khaled Al -Hossan said that the Saudi financial market had the goal to improve the access of individual investors to the parallel market “growth” through the legislation and regulations of the regulations, and opened its doors to the successful experience of Hong Kong. A mobility linked to the results and in an initial indication of the results of the telecommunications sector, the ‘Saudi Mobiles Telecommunications’ (Zain Saudi Arabia) announced better results than expectations for the past year, as the net profit of the company 596 million riyals compared to the average expectations of analysts. is. Today, if the telecommunications sector will continue to recover after it has increased 3 out of 4 shares in the sector yesterday. Zain jumped by more than 5%, while the “STC” shares increased by 1.5%and the “Mobily” Union (Mobily) 0.9%. Saban agricultural feeding shares rose about 0.4% in the last session, after the company announced the decline in annual profits in 2024, but it came better than analysts expectations.