15/03/2015
Analysts: the market on an upward path in the short and medium term
Saudi Stock establish new centers with a variety of aspects of liquidity and moderate movement in the Index
The "economic" said Analysts in the Saudi stock market that still pervades the positive market trading after the excesses of important resistance levels with high circulation rates and higher shares of most listed companies.
The Saudi market index closed the week's trading on a high for the week seventh winner of 175 percentage points, 1.8 percent at 9691 points levels.
Mohammed Alshammemari Said the basic positive in trading is the diversity of aspects of liquidity among several sectors despite the tendency to sell at the end of trading, and move the index moderate ups and downs, considering that establishes positive centers of the market in the coming period.
He added that the market is still moving toward the upside in the short and medium term after that exceeded the 9650 region means to overcome significant technical resistance area.
Ryan said that Dirar market trading exceeded important technical resistance levels in the past week, with high circulation rates and rising most traded shares of listed companies.
He added indicators in the next week looks positive but trading cautiously required, stressing that the random speculation in the stock market declined compared to previous periods.
For his part, Al Nasser considered that the effects of the descent of oil prices will continue to cast a shadow on the market, and that the greatest impact will appear in the sectors of petrochemicals.
He predicted that the real estate sector index is affected after the recent changes and guidance to accelerate the pace of granting residential products to citizens.
AlNasser said: "According to the data in the context of low oil prices, the service sector will rise to it positively affected by lower prices."
Regarding the impact of the results of companies in the first quarter on the market, said Nasser: "expected to influence begins in the last week before the announcement of the financial results of companies, especially by preventing major shareholders from selling their shares, where many of them start earlier to get rid of their shares in particular are expected negative results".
AlNasser said: "We are now in a period of anticipation of the results of companies so you will not see a big up in a lot of companies will not see a big down in many of them."
And expected affected three companies results are SABIC and Mobily and Zain, adding that the telecommunications sector will suffer from the bad results of the two companies two years in addition to Atheeb, said: "There is only one company perform very well where there is a STC black horse in the sector."
And for the agricultural sector, said he was not attractive to investors and traders as a reflection of the country is headed to foreign investment, he added: "thus lose this sector, a large part of the state support at home which an investment is promising in the kingdom is not expected to have a future."For the retail sector has stated that the indicators are considered promising "and is expected to provide good numbers and continue to achieve."
