الهدوء يسيطر على تداولات السوق السعودي في ثاني جلسات الأسبوع

CNBCArabia

Watch الهدوء يسيطر على تداولات السوق السعودي في ثاني جلسات الأسبوع - CNBCArabia on Dailymotion

Transcript

00:00Let's take a look at the details of today's session with a guest from Riyadh, Mr. Mohamed Al-Amra,

00:07President of the Gulf Center for Financial Consultations.

00:09Welcome, Mr. Mohamed.

00:11Despite the fact that insurance companies in the Saudi market have started to improve,

00:16we have good entities, but today we found the biggest five losers from insurance companies.

00:22Why?

00:24Bismillah ar-Rahman ar-Rahim.

00:26There is no doubt that the financial results announced today by a large number of insurance companies

00:31had a clear effect on the closure of a large number of insurance companies,

00:36compared to the rest of the world, of course.

00:38The reason, as we know, is that last year there was a change in the accounting standards,

00:44and consequently, there were large jumps in the wills and net profits of insurance companies,

00:51not on the ground.

00:53There was a shy reaction throughout this period with these results,

00:58because they know that the main reason was a change in the accounting standards,

01:03and the important thing is always the tangible reality of the actual results,

01:09whether in the form of new insurance policies, whether in medical activities,

01:14or insurance of cars, and so on.

01:17It is true that there is an improvement in activities on the ground,

01:20but accordingly, there were large jumps due to a change in the accounting standards.

01:25This year, when we compare the performance with last year,

01:29it was very clear that there were companies that succeeded in maintaining their wills

01:36and net profits compared to last year,

01:39but a large number of insurance companies, unfortunately, had a decline,

01:43whether it was separate or annual, whether it was in sales or net profits.

01:47And the really disappointing surprise is that some insurance companies,

01:51today and in recent days, have announced losses, in fact,

01:56and this is a shock that the insurance sector is improving,

02:02and there is a change in the accounting standards,

02:04there is also an improvement in activities on the ground,

02:08but unfortunately, according to some companies,

02:11there was a large decline or even a loss, as we mentioned,

02:15and this, of course, had a direct effect on the large number of insurance companies

02:21in the world today.

02:24Let's talk a little about the 12,250 index,

02:28which is still related to this channel.

02:30Mr. Mohammed, what is your point of view?

02:32Why are we still waiting?

02:33Is it the time to announce the results and we are reading how it can move after that?

02:39I consider the 12,250 point to be a very important point,

02:43because the market, as we know, has been down for six weeks,

02:47and it has also had several weeks, two or three weeks,

02:50to try to build uprisings, all of which failed.

02:53Today, in fact, several days ago,

02:58we began to notice that the market is really trying to establish a new uprising channel.

03:03I mean, its primary reassuring factors are the breach of the 12,250 index,

03:09which you mentioned, and we really closed the day on it,

03:12which means that there are signs that we hope will be true for a new uprising path,

03:18but the problem is that the valuation is still weak.

03:21I mean, today, I don't think it exceeded even 7 billion Riyals per day,

03:27and this shows that the establishment of an uprising channel is not supported by strong liquidity.

03:32I mean, it supports the purchase and construction of a strong uprising path.

03:36For this reason, it is true that the picture looks good with the establishment of an uprising path,

03:43and a break for downtrend paths, and this is a positive sign, without a doubt.

03:50But the important thing is to see bigger uprisings,

03:54and to focus specifically on leading companies,

03:58and we haven't seen this so far.

04:00We hope to see it tomorrow or the day after tomorrow.

04:03I mean, if we saw, for example, the market capitalization at the level of 12,250 for several sessions,

04:09with an increase in uprisings, let's say over 7 or 8 billion,

04:14I think we would have established a really strong and supported channel, God willing.

04:19But if we enter a new profit process, of course, it will destroy everything we have built so far.

04:25Okay, let's go with you to what we expect of an improvement in the banking sector.

04:32So far, it seems that we are getting closer to the image of the federal values,

04:36which are about to burn, contrary to the direction of monetary policy.

04:40Will the banking sector opportunities be the last time we see them in the first quarter of this year,

04:45with this increase in profit margins?

04:47I will exclude Rajhi because his portfolio relies a lot on real estate, especially individual loans.

04:53Or do we still have a chance until the third quarter?

04:56I think there are many opportunities.

04:59I mean, the banking sector was able to speed up growth rates,

05:05in wills, or in net profits,

05:08improving profit margins, including, of course, the Rajhi Bank.

05:13Therefore, there are many opportunities for him to lead the next phase.

05:17The telecommunications sector is also on the rise,

05:20because there is an improvement in profit margins and growth rates,

05:24as we have always mentioned.

05:26Growth rates are what drive prices to rise,

05:30in the face of other negative factors.

05:33Therefore, at this stage, the continuation of growth rates in wills and net profits,

05:38I think, will play a role.

05:40This is what we have noticed and seen so far in the first quarter of this year,

05:46specifically in the banking sector and the telecommunications sector.

05:49For the federal sector, several weeks ago, there was evidence that it could increase,

05:55and this ended when Mr. Powell announced in the last meeting two weeks ago

06:02that this option is not necessary at all.

06:05Therefore, there is no need to be afraid of any intention to increase,

06:09even if it is a small percentage.

06:11Now, the bet is that it will be reduced,

06:15but the question is when and how?

06:17The latest forecasts indicate that the decline will start next September,

06:23and before the end of this year, we may see two declines.

06:27These are the closest forecasts and possibilities.

06:31Therefore, this supports that we may see increases in the prices of stocks

06:36as long as companies maintain growth rates,

06:39despite these negative conditions, of course, in wills and net profits.

06:43Therefore, if this growth continues, it will certainly support buying operations,

06:48and the buying rate will increase and rise as long as the federal sector really reduces,

06:55as we mentioned, from next September.

06:58Thank you for your time and your analysis.

07:00My guest is Riyad Al-Amran, and you are the President of the Gulf Central Bank.

07:03Financial consultations.

Category

Transcript

Recommended