The Saudi Market is rising to the third session with the support of "Aramco" share

The share of Aramco led the Saudi Stock Market Index to the increase, supported by the expected increase in oil production and positive expectations of the company about the future of the question, but the index still has the pressure near the 11 thousand points threshold in light of the continued weak liquidity. The “Tassi” index closed 0.23% at 10946 points, which is the highest closing level since July 27, supported by the rise of all leadership sectors, except for banks, with the ongoing profits of “Aramco” share, in addition to the rise of the shares of “Sabic” and “Aqua Power” in exchange of the declining of -Bank ”, am. Riyals. Ahmed Al -Rasheed, the first financial analyst in the newspaper “Al -iqtisadiya”, believes that the market prospects were positive during the coming months by the part of the giant oil company, to the positive response from investors to its profits and optimistic expectations to claim RU in the second half of the year. During an interview with “Al -Sharq”, Al -Rashid said that “the expected increase in production in September in addition to the increases that occurred during the year by about a million barrels per day” indicates a significant increase in the net profit of the fourth quarter, adding that “this improvement in Aramco’s share will have a reflection on the tassing.” Saudi Arabia is a large member of the “OPEC+” coalition, which has ended the voluntary discount to which eight countries have met since 2023, and announced a new increase in production with 547 thousand barrels per day last Sunday from September. Ashraf Jarrar, the International Asset Management Mediator at the United Securities, indicated that the market is still “suffering from the poor participation of individual investors, while institutions still exist and benefit from each decline.” But he expected “the return of individual investors after the end of the results season and their re -evaluation of the numbers on the market,” noted that the repetitions of profitability are now between 14 and 15 times, which will be an attractive factor for investors. Mohamed nobility, the financial analyst at Al -Sharq, is a stubborn resistance on the other hand, that the general index in the short term faces a ‘stubborn resistance’ in light of the decline in the incentives that exist by the financial results of companies. He added that “a while ago the index faces pressure at the level of 11 thousand points and tries to test it more than once, especially since it concedes with the moving average for a period of 50 days, but it did not succeed,” more than half of the listed shares traded for a period of 50 days. In turn, Mary Salem, the financial analyst in “Al -Sharq”, says that the quarterly results of the listed companies in general “were not in the expected positive framework that could put the index under pressure. She pointed out that after the announcement of about 75% of the businesses listed over their results, “the collected profits of the listed companies declared so far dropped by about 8% to exclude Aramco and 16.5% with the calculation of Aramco. Investors at this stage will not be with the same power” and will be based on the status of each company. The results support some stocks. Under the results issued today, ‘Abdullah Al -Otaim Markets’ achieved higher quarterly profits than expectations of the second quarter of the year, which rose the company’s share by about 2.5%, and the profits of ‘Sinomi Center’ rose 34%during the quarter thanks to the evaluation of real estate. In the medical sector, the gains of “Fakih Medical” rose 59% during the three months to the end of June, which spurred the share to close 2.4% after the profits were 4% during the morning trading.