Saudi shares are on the way to register profits during 4 months of refuge

The Saudi Stock Market Index completed about 11,200 points at the beginning of today, Monday, with a slight decline in Al -Rajhi Bank and Aramco Saudi Aramco. On the other hand, each of the shares of Makkah development and development and the stock of Riyad Bank contributed relatively to it. The most important Saudi Market Index is on their way to take up the first monthly profits after four consecutive months of haven, during which it lost 1425 points to repair about 15% of these losses in June. In an interview with “Al -Sharq”, Dr. Win Veston Capital acting CEO Ishaq Ali said that the general trend of the market is positive, suggesting that the markets are supported by a stage of the composition centers, supported by a clear momentum, amid a rising track. He explained that yesterday’s session was a penetration of an important resistance barrier above the level of 11200 points, which means profits of about 600 points within one week, which is a positive sign. He added that this increase was supported by positive reports issued by international institutions, such as the International Monetary Fund, which increased its expectations for the growth of the Saudi economy from 3% to 3.5%, as well as the expectation of a strong growth of non -oil activities, a positive view that the World Bank also adopted. He pointed out that these reports have contributed to improving the morale of investors, as well as local supporting factors such as low unemployment, banking gains and the rise in foreign investment, which has strengthened investor confidence in the market, and that the positive trend is likely to continue in the short term.