With the recent cash grab of Al Rajhi Bank Sukuk completed the issuance of SR10 billion ($2.6 billion) Tier 1 SR-denominated sukuk, with coverage of over 300%. Saudi Arabia’s main index TASI is suffering liquidity in the market.
TASI
TASI which is heavily weighted by the Banking and Petrochemicals;
$2222 is currently below its IPO price of 32 – Lately facing pressure of uncertainty of Oil Prices and demand.
$7010 With the recent buybacks it appears that the company is signalling a slight uptrend in the telecommunication sector.
$2010 The company’s recent financials have been hit with net profits margin sank to 3.92% compared to its previous quarter of 14.1%. Additionally, SABIC’s profits deteriorated over 67 percent from SR5.6 billion in the same quarter a year earlier, recording a bigger fall than analysts had earlier estimated, despite a revenue jump of 7 percent to SR47 billion.
$1120 
$1180 Both SNB and Al Rajhi are showing robust fundamentals due to the recent macroeconomics although if a recession were to happen in the upcoming months loan demand declines and investors seek safety.
References: Aljazira Capital, Argaam
TASI
DATE VALUE TRADED (SAR)
2022/12/15 6,702,114,194.93
2022/12/14 5,198,452,452.29
2022/12/13 5,641,471,939.41
2022/12/12 5,944,166,488.26
2022/12/11 3,054,604,600.67
2022/12/08 4,207,197,978.96
2022/12/07 3,681,126,174.09
2022/12/06 4,967,970,943.47
2022/12/05 4,146,969,817.51
2022/12/04 2,909,780,131.80
TASI which is heavily weighted by the Banking and Petrochemicals;
$2222 is currently below its IPO price of 32 – Lately facing pressure of uncertainty of Oil Prices and demand.$7010 With the recent buybacks it appears that the company is signalling a slight uptrend in the telecommunication sector.$2010 The company’s recent financials have been hit with net profits margin sank to 3.92% compared to its previous quarter of 14.1%. Additionally, SABIC’s profits deteriorated over 67 percent from SR5.6 billion in the same quarter a year earlier, recording a bigger fall than analysts had earlier estimated, despite a revenue jump of 7 percent to SR47 billion.$1120 $1180 Both SNB and Al Rajhi are showing robust fundamentals due to the recent macroeconomics although if a recession were to happen in the upcoming months loan demand declines and investors seek safety.References: Aljazira Capital, Argaam
Nota
TASI records lowest volume 1.9 billion SAR since Decemeber 2019.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.