The Saudi -Tassi index increases marginally supported by the rise in oil prices

The most important Saudi Market Index “Tassi” ended the Monday session with a slight increase of 0.2%, closed at 11850 points, amid a decline in trade values ​​with approximately 280 million Riyale of the previous session up to 4 billion Riyals. The most important support comes from the rise of the “Saudi Aramco” share -the largest weight in the index -powered by the recovery of oil prices, as well as the rise of “Al -Rajhi Bank”. On the other hand, the profits of the index reduced the shares of “Riyad Bank”, “First Bank” and “Aqua Power”. Ahmed Al -Rasheed, the first financial analyst in the newspaper Al -iqtisadiah, said in an interview with “Al -Sharq”: “Despite the limited increase, the bullish reflects a relative improvement in the morale of investors, with a decrease in the scope of the oscillation and indicates the beginning of a more positive look at the market.” He attributes this to “the circulation of many stocks at historically low levels and even on an annual basis, as well as improving profitability, which gives the market a better technical situation compared to recent weeks.” Al -Rasheed added: “The recovery of oil prices also contributed to the support of Aramco’s share, which strengthened the performance of the index in the contemporary session.” Despite this improvement, the liquidity has been at low levels in the market since the beginning of the year, compared to the same period last year. Al -Rasheed attributes this to “the high interest rates, and the increasing attraction of fixed income instruments such as SUKUK, as well as a state of uncertainty that drives many short and medium -term investors to wait in access, pending the vision of the vision.” However, Al -Rasheed is of the opinion that the index is able to achieve profits, even in light of the poor liquidity, citing what happened in 2016 and 2017, when “tassi” managed to rise despite similar trade and liquidity trade. Financial analyst in Al -Sharq, Mohamed Zidan, analyzes the artistic indicators of “Tassi”, suggesting that the landmark is most likely: