The Saudi Stock Exchange has a third weekly loss, amid cautious transactions

The Saudi stock market has incurred its third weekly loss in a row, under the weight of selling pressure with the ongoing influence of oil prices, and amid anticipation to lower interest rates in the United States next week. The most important “Tassi” index closed at 10453 points and withdrew by 1.9%, which is the largest in 8 weeks. Warning is still predominant. Financial analyst meeting Mansour sees that caution still dominates the decisions of clients in the market, which occurs in the value of low transactions that amount to only 3.5 billion Riyal during contemporary session, especially in light of low oil prices that “still influenced the market directly through leadership sectors, such as energy, banks and petrochemicals.” Oil prices have fallen slightly to the price of Brent Barrel $ 67.4 and $ 63.59 for Western Texas -Intermediate crude oil. Mansour added during an intervention with “Al -Sharq”: “Despite the decline in profitability, we are still far from the levels that investors have attracted in the past, which are about ten times. We approach this threshold, and to reach these levels may be an opportunity to restart.” Majed Al -khaldi, the first financial analyst in the newspaper “Al -iqtisadiah”, says there is a turning point on his part, and it is an increasing optimism about lowering interest rates, which will help the market to apostasy. He added during an intervention with “Al -Sharq”: “Producers’ prices in the United States fell yesterday that companies did not transfer the cost of customs to consumers, increasing the expectations of the reduction of interest rates next week, which will increase the market of market market.” The Federal Reserve is generally expected to lower interest rates at its next meeting on September 16 and 17 with at least 25 basis points, but investors around the world will wait to look at the largest statements of his president, Jerome Powell, about the prospects for the economy and the way of monetary policy. But Junaid Ansari, director of the Department of Investment and Research Strategy at Kamco Invest, believes that a reduction with 25 basis points will not have a significant impact on the market, as traders have already taken into account. The shares “Al -Majidiya” still drop during the trading of Thursday, the passion of “Al -Majidiya” real estate, with 8.2% to 12.7 Riyals, continuing the decline for the second session since the trading of yesterday in the market. The decline reflects an ongoing trend of shares included in the market this year, as most of them are traded below the offering price. ‘Al -Majidiya’ shares affected by the poor morale due to the negative performance of most of the previous proposals this year, but it has the benefit of a low evaluation compared to the sector and the market in general, which limited the decline yesterday, according to Al -Khalidi. Analysts, including Mansour, say that receiving clients in the new induction market in recent times a “maturity in handling”, as the acquisition of shares has become dependent on the performance of companies and their financial lists analyzed, “after a period in which we were witnessing a demand for any new inclusion, regardless of the business.” But he pointed out that he did not expect him to “continue to decline for a long time, because there are strong tendencies to develop the real estate sector, which will benefit greatly in the coming period.”