Saudi

Saudi shares returned to the Green Zone at the start of the trading on Monday to stop a decrease wave that lasted two sessions amid profits that followed the strong profits they recorded last week. The “Tassi” index opened slightly low before turning 0.5% to 11285 points with the support of Banks shares, led by “Al -Rajhi Bank” and “Al -Hly Bank”, while “Aramco” -the largest company listed in terms of market value -saw a minor drop. Analysts believe that the market is still going through a phase of fluctuation, although it is less severe, with investors focusing on the implications of implementing an upcoming decision to increase the ceiling of foreigners’ ownership, as well as to determine rents in the capital Riyadh, and the impact of this on the performance of the various sectors. The profits on the Saudi Stock Exchange are expected, Ikrami Abdullah, the chief financial analyst in the newspaper “Al -iqtisadiah”, sees that the profits are expected after the index has more than 12% of the bottom he recently recorded, and expects the index fluctuation to continue during the remaining sessions this week, but on a lesser PACE. During an intervention with “Al -Sharq”, Abdullah pointed out that the leap reached by the market over the past week is “driven by reducing interest rates, along with news related to the intent of the market authority that allows foreigners to own majority shares in the listed companies.” The retail sector refreshes Abdullah that the transactions will focus on shares affected by the news of the ownership of foreigners during the current period, in addition to the decision to resolve the rent. Nevertheless, Abdullah expected the impact to be limited to real estate companies and RETT boxes, along with a few other companies “such as retail companies with many hired sites such as Drees, Sasco, fuel stations, pharmacies, jarir and extra.” In the retail sector, in the morning trading, the shares of “Sinomi Retil”, “Al -Prees”, “Extra” and “Building Station” are. The banking sector is due to the increase after the market has pressed in the last session, the banking sector index in early transactions increased by 1.2%. A member of the ‘Saudi Economics Association’ Board of the ‘Saudi Economics Association’, Saad Al -thaqfan, said the banking sector continues its strong impact on the market due to the performance of record profits in the second quarter, and expects the sector to continue to achieve strong profits, despite facilitating the monetary policy that will print the margins. “Low interest.”