Improved morale pushes Saudi stocks for the best daily performance in two weeks

Saudi stocks ended trading today, Wednesday, with the best daily performance in two weeks with the support of most companies, headed by “Saudi Aramco”, while the United Carton Company continues to decline without the subscription price for the second session.

The closure came at 11053 points with 1.2%gains, amid the rise of most sectors, and with the support of the head of the energy sector led by Aramco.

In the previous “economic” analysis, it was referred to several factors that pave the “market cohesion and try to rebound, with the activity of investors seating opportunities for price declining”, and the factors still support the positive path of “Tassi”.

The market is awaiting the results of the OPEC+ meeting and oil prices, in addition to the minutes of the American Federal meeting, which may contain information that shows the direction of monetary policy during the coming period.

Waiting is reflected on the trading values ​​by decline 11% to 4.6 billion riyals, while the continued survival of the market liquidity keeps the severity of fluctuations, in addition to that it does not reflect more activity by investors, which may limit positive moves for a long time unless the trading value improves.

The “public utilities” sector decreased alone by about 0.8% against the rise of the rest, while the high exports “applications and technology services”, while the “bank” sector was the highest in value by about one billion riyals.

Financial Analysis Unit