The Saudi Market wipes out the losses of a short week before the Eid holiday

The most important Saudi Market Index “Tassi” increased by 1.6%in the middle of the last trading session before the Eid al -Aadha holidays, exceeding the level of 11,000 points with the support of the leadership shares, to eradicate the losses it has made since the beginning of the week, which have been limited to four trade sessions. This comes in collaboration with the increase in the US and Asian markets, in light of indications that the US job market was not negatively affected by customs duties imposed by President Trump, which strengthened expectations with a positive achievement after the Eid. The “Tassi” index started today, Wednesday, with the support of the shares of “Saudi Aramco”, “Al -Rajhi Bank” and “Maaden”. An expected improvement for liquidity after the holidays in a meeting with “Al -Sharq”, Youssef Youssef, the financial analyst and lecturer in financing and investment, expected liquidity to improve in the Saudi market to the EID holiday, at the beginning of the surplus surplus of the coming period. He pointed out that the market scored a slight decline during the Tuesday session, but that the index spread above the level of 10850 points most of the time, which is higher than the closure of the Monday session, with a decrease in the scope of oscillation to 50 points only between the highest and lowest level. He explained that the sectors generally maintained their stability, while the media and entertainment sector scored a remarkable increase by 4%, after declines of more than 60% since the beginning of the year. Regarding the subscription of “Flynas”, Youssef pointed out that the poor coverage of individuals is due to the timing of the offer that is the decline in the appetite of investors, in addition to the high price of the offer for some investors, and expects it to be good on the list at the same time. He also pointed out that most of the recent proposals are traded below the subscription price, including the ‘United Cartoon’ share, which currently trades a 18% drop of the price of the offer. Meanwhile, for the first time in four days after the data showed that the US job market was characterized by durability, the concern facilitated that the war war fed by President Donald Trump was pushing the global economy to the slowdown. The indicators in Wall Street also got up last night, while bonds fell and the dollar rose.