"تاسي" السعودي يرتفع لأعلى مستوى له في 5 أشهر بدعم من قطاع البنوك
Category
🗞
NewsTranscript
00:00 And about the closure of Saudi's indicators, we have Abdulaziz Khraissa, financial markets analyst.
00:06 Mr. Abdulaziz, welcome to our show.
00:08 Thank you for being here.
00:09 Let's start with the level of 11,800 points.
00:12 Despite the absence of international markets today due to the fluctuations,
00:14 the market was able to exceed this level.
00:18 Just by penetrating to what extent are we facing a series of rises before we end 2023 in your opinion?
00:27 Hello, Ms. Maysa. Thank you for the viewers.
00:30 For sure, the Saudi market is now close to the level of 12,000.
00:34 It's closer than ever before, especially since we have the annual closure on Sunday.
00:41 For sure, the closure of the Saudi market in 2023 will be positive compared to the previous year,
00:48 which had a level of 10,400.
00:50 It is clear that the Saudi market indicator is sitting ahead of the time,
00:54 so it is trying to reach the level of 12,000.
00:57 It seems that there is a intention to close the annual indicator above the previous peak,
01:04 which was recorded about four months ago at 11,930.
01:08 Specifically, we have a point that is considered a psychological point for the level of 12,000.
01:12 Yes. Today, we are talking, it is clear that international companies
01:18 are gradually returning to the Red Sea,
01:20 and the Danish market is apparently preparing to return.
01:24 How much will we see a steady movement for oil prices until the shipping movement returns through this area, Mr. Abdelaziz?
01:35 We have seen oil prices in the past period, there was a sharp decline.
01:41 The prices were coming from all sides, from production restrictions,
01:45 from the withdrawal of some countries from the OPEC organization.
01:48 In addition to the geopolitical situation,
01:51 oil stability above the level of 70-80 dollars is considered positive,
01:56 although it may be far from the average during the year,
02:01 which was above the level of 80-85 dollars.
02:03 Now, we are concerned that during the coming period,
02:05 there will be stability for oil prices above the level of 80-85 dollars.
02:09 Any positive movements regarding the Red Sea will reflect positively on oil prices.
02:19 Now, with the arrival of winter,
02:21 the prices of oil may also reflect positively during the next three months, God willing.
02:25 Yes. The rising is the attractive today,
02:27 with the level of 86 dollars today,
02:30 and we reduced it during the increase.
02:32 But the current levels of the rising,
02:34 how much is it likely to increase?
02:36 And are we really close to the level of 90 dollars during the coming period?
02:40 And is today's movement related to certain reasons, Mr. Abdelaziz, in your opinion,
02:46 and as in all the banking sector?
02:48 Has there been some kind of reduction,
02:50 some kind of federalism,
02:52 by reducing the monetary policy,
02:54 and giving some kind of comfort to the banks?
02:56 Of course.
02:58 Usually, the financial markets price the news expected during the coming period,
03:04 but there are some news that show that there will be a reduction in the expected interest rate
03:10 three times during the coming year.
03:12 The Saudi market is now mainly linked to the banking sector.
03:20 We ignored the rising,
03:22 it rose about 35% to 37% from the 62-63 dollars level,
03:28 and now it has reached the 86-86 dollars level.
03:30 Every 10 days, the rising has a movement in the index about 2 points.
03:38 So, you can imagine that the rising of the index is about 2.2 dollars,
03:42 which has no effect on the index in general.
03:44 And we saw that the index recorded a peak of 11,800,
03:50 despite the stability of the Aramco in the past period,
03:52 which is about 33 dollars.
03:55 Of course, the positive impact was not on the index,
03:58 but on the banking sector in general.
04:00 We ignored the country, the family, the first, and Riyadh.
04:04 All of them had a big movement in the past period.
04:08 The rising was the most striking movement,
04:10 and it strongly reflected on the index.
04:14 The index now remains at 12,000,
04:16 except for about 170 and 180 points.
04:18 We do not expect that any movement from Aramco,
04:21 and from the banking sector in general,
04:23 will contribute to the index movement to 11,930,
04:29 the previous peak, and then to the level of 12,000 points.
04:32 The distributions expected from the people and the rising, in your opinion,
04:35 and since the rising is still below 40,
04:37 will it be according to the contributors' expectations,
04:41 and specifically the distributions of half, Mr. Abdelaziz?
04:44 Of course, it is expected.
04:46 The early talk on it may be that the results of banks
04:52 and distributions will be in February.
04:55 We are still in the last December.
04:57 We have seen some distributions from some petrochemical companies,
05:01 such as SABIC, Sibkeem, and today SABIC is related to the agricultural food.
05:06 The rest of the financial institutions and the banking sector
05:09 are expected to see distributions in February.
05:11 I don't think we can talk about anything now,
05:13 but for sure, in February, when the results are announced,
05:17 and the distribution of profits, the support of the indicators will be strong.
05:22 Yes.
05:23 We see today that the performance of the company is excellent,
05:26 perhaps the highest price of the company,
05:28 with the company's signing of a lease and the establishment
05:30 and operation of the shipping building at the Fahd International Airport.
05:34 How are we evaluating the share movement today, Mr. Abdelaziz,
05:38 with these major agreements that the company has started to move towards?
05:43 It seems that the traders, or the market in general,
05:47 started to price the sale higher than the price of the signing.
05:51 We saw that the sale was put up in the market for less than two months,
05:55 at the price of 106 Riyals, and its lowest price was at 127 Riyals.
06:00 The price started to gradually rise during the past period,
06:03 until it reached the price of 145 to 150 Riyals.
06:06 Of course, many traders, based on the spread of exports,
06:10 and the financial standards that the company showed during the third quarter,
06:15 and before that, gave the company a positive picture for the coming year.
06:21 Of course, as is well known, the market usually starts to price
06:25 the expected during the coming period.
06:28 The sale has started to reach the current level,
06:30 look at 163 Riyals, and it jumped, a strong jump,
06:33 in two days, by more than 10 to 12%.
06:36 We saw that many companies that were put up during the past period,
06:40 we can't say all of them, but a large part of them,
06:43 after the price of the signing, started to jump a nice jump,
06:46 like the Riyadh company, which today has a higher price than the signing.
06:50 We saw that the Science share price jumped to 850 to 890 Riyals.
06:54 Lowbrief, we saw that the signing was at about 99 Riyals,
06:58 and then it jumped to 850 Riyals.
07:01 Usually, now, there is a big awareness among the traders,
07:04 to price and evaluate the companies' real prices,
07:07 based on the financial status, based on the projects,
07:11 and the results that might appear to them in the coming period.
07:14 Yes, the transition from the equilateral market to the main market,
07:17 maybe Cairo is also increasing by 10% today,
07:19 and we had a talk with the CEO.
07:21 The transition process now, we will see it in a bigger way,
07:24 in your opinion, Mr. Abdelaziz,
07:26 have the companies that are in a more advanced stage,
07:29 in 2024, to transition to the main market.
07:35 Will this affect the equilateral movement,
07:38 which is still above the 24,000 point level?
07:41 Certainly, now we have in the equilateral market,
07:44 about 79 companies,
07:46 and 7 companies have been approved.
07:50 I think the main goal of any company that wants to be in the equilateral market,
07:57 is to transition to the main market after 2 years,
07:59 according to what is available from the boards of the organization.
08:02 Of course, there are several factors,
08:04 the main one is that the company will continue to be in the equilateral market.
08:06 The companies that have completed 2 years,
08:08 started to submit their bonds to the organization.
08:12 We have seen it in the past period.
08:14 We have seen some companies like Cairo, Rooum, and others,
08:18 that have announced their intention to transition to the main market.
08:21 In general, until now, the number of companies that have been transferred
08:24 from the equilateral market to the main market is not a large number,
08:26 until now only 11 companies,
08:28 the last one is the company called Riyad,
08:30 and before that the company called Samoon.
08:32 The last transfer was almost 2 years ago,
08:34 it was the food development company,
08:36 before that there were companies like Reda, Alibu, and Muadhi.
08:39 Now we have 99 companies.
08:41 I am sure that all 79 companies want to move to the main market.
08:45 On the contrary, I hope that we will see a bigger and bigger boom in the equilateral market.
08:50 We have seen in the past period that the liquidity is lacking,
08:54 today there are 79 companies.
08:56 In general, the liquidity of the equilateral market is about 2 million shares,
08:59 yesterday it was less than 2 million,
09:01 today it was about 700,000.
09:03 What is important is that there is liquidity in the equilateral market,
09:06 so that it can give a positive impression to the investor
09:08 that he can invest in the equilateral market companies,
09:10 and then the companies that are prepared to move from the equilateral market
09:13 to the main market,
09:15 and as they say, the investment path will be good in terms of investment.
09:20 Thank you Mr. Abdelaziz Alkhraish, financial market analyst.
09:25 You were with us from Riyadh. Thank you very much.