Aramco's market value below the first public supply level

The share of the Saudi Arabian oil company “Aramco” fell by more than 6% at the beginning of the Sunday session, with the lowest level since May 5, 2020, in a decline since the same year’s session on March 8, to inspect the shares to $ 90 billion of its market value. With this decline, the market value of the company shrank to about 6 trillion rows (1.6 trillion dollars), compared to 6.4 billion rows when it was admitted to the Saudi market in December 2019, representing a 7% drop of the initial offer. Since the beginning of the year, the share has lost about 12% of its value, in light of the increasing pressure on energy shares amid oil prices fluctuations and the fear of delaying global demand. Saudi Arabia today leads the declines of the Gulf stock markets. The General Index of the Saudi Stock Market continued its decline in the second consecutive session at the beginning of today’s trading, Sunday, and detected the rest of the indicators of the financial markets of the Gulf, amid a wave of serious losses in the US financial markets taken by the entry of the US dead. on it. The “Tassi” index was more than 6%with the opening of the session, scoring 11167 points, which led to the decline in the wave markets, amid the decline in all leadership shares, as the arrow of “Al -Rajhi Bank” lost 6%, “5%,” Sabic “4%and” Saudi Telecom “4%. Its its biggest daily losses since 2020, as the first Kuwait Market Index and the Qatar Stock Exchange Index fell by more than 5% for each of them, while the Muscat Stock Exchange fell by 2.3% and Bahrain dropped about 0.5%.