12/04/2015
Candidate to penetrate the barrier of 9,000 points, despite the impact of speculation
Dividend companies support the upward path of stock index
Analysts have voiced optimism that the Saudi stock market index broke the 9000 points barrier this week, referring their references to the results of advertisements expectations of some leading companies supporting the positive trend, especially in the banking sector andentitlement dates topaymentsfor a number ofcompanies that supports the upward path of the market.
He said to the "economic" Mohammed Alshammemari financial advisor in the global markets and currencies: The Saudi market is moving to break 9000 then 9105 points until the trend is changing in the short term to upward trend, likely continuation of the positive wave, as many companies annual distributions have been dividend entitlement, whichis a good thing for the market, adding that this cohesion has a big role that the benefits in the current month comes as a confirmation of the continuing upward path, a breakthrough 9105 points.
He explained that the rise in the market can be a rebound as a result of the strong down to the market, where the market has made a bottom higher than the previous bottom at the level of 8501 points fell and was at the bottom earlier at almost 8494 points, rebounding from strong decline, noting that a lot of positive things happened and changed direction to the upward.
Alshammemari: "We have a first resistance in 9105 points which, if breached the trend my change to the upside again and make sure the bottom, who scored in this wave, and the positive closing above the average of 20 days."
He continued: "rest assured to broke again for the 9105-point barrier."
He stressed that the market waiting for the entry list of foreign companies into the market, which will increase the depth of the market where there is a deeper reports and houses more experience can have the estimated corporate profits as well as increased trading in the market in depth and appealing more to the Saudi market, therefore there looked foreign to enter through foreign financial fundsintervention in the Saudi market.
For his part, said to the "economic" Khaled Aljawher, a financial analyst for the stock market: The market will continue to move in the context of the emerging wave in the short term, though this stage, the stage of the results, pointing out that the sectors will be between good sectors and other conservative, the market was able to absorb thisIt began dealing with the performance of companies based on expectations, therefore we will see a rising wave in parallel with the performance of companies.
On the sectors that bring the possibility of achieving good results, he said, the most important banks and cement sector, retail and some industrial sectors, but not all, and the petrochemical sector, he predicted a conservative rather than optimistic.
He noted that the most important external factors that are likely to affect the stock market what is happening in Yemen, is reason for optimism that reflect "The Storm" more stability and optimism for the region, it is a positive supportive of the market and the growth of the economy in the future after the completion of this stagewhich is temporary.He added that it is important to keep the oil at levels of $ 60 a barrel, it would be especially positive factor for the second half of the year, it is expected that the market to be stabilized in the second half.
He pointed out that the banking sector is still a dark horse for the market, a winner, and expected that the second half of the year is growing for the cement sector and the retail sector and food is from the good sectors but for the Insurance few Part of the sector continues to climb. The rest are still suffering, stressing that the transport sector is importantwill see good results with the support of the two maritime transports and mass transport, adding that the sector, which is the saturation of the real estate sector, where it has become more investing and prices which exceeded the investment stage and become speculative.
For his part, Dr. Abdullah Almaghloth Economic specialist said that the first influential factor in the market now is the corporate results for the first quarter of this year.
He pointed out that speculation on the list of listed companies moving between sectors, affecting the market, and there is a part of speculators fear of geopolitical factors in the region on the market and trends in oil prices.
