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00:00 We are talking about the closing of the market and we have with us from Riyadh Mr. Ibrahim
00:04 Linoibet, the CEO of Kasab Financial.
00:07 Welcome Mr. Ibrahim, thank you for being here.
00:10 The important level of resistance is still raging around the market, 11,900 points.
00:16 What is striking is that despite the big surge that we are seeing in the currency today,
00:21 which exceeded 7.8 billion, the market was not able to prove above it.
00:26 Are there still two seats left before the end of 2023 to stay above this level?
00:33 Welcome, Ms. Mays.
00:36 It is true that the resistance is at its peak in 2023, which was around July this year.
00:50 But it is a sign of the rise in resistance and the rise in the price.
00:56 The reason is that banks are in the list of stocks that greatly support the index.
01:05 The liquidity in banks for about a month is a sign of the rise.
01:11 In addition, the entry of the day was also a role in the adjustment of the centers or reducing the burden on the continuation of growth.
01:23 Also, yesterday, the STC was among the companies that helped in supporting the index.
01:31 These important sectors, led by the leading banks,
01:40 give us a good impression that the index is able to continue to rise in the coming period.
01:46 Yes, but aside from banks, there is still a pre-diversity of entry to some other sectors today, Mr. Ibrahim.
01:55 Therefore, how much is the investor trying to seize opportunities before entering the new year on some non-essential sectors?
02:02 We are talking about petrochemicals and also on the banking sector.
02:06 In your opinion, has the other sectors in the market still formed an opportunity for investors?
02:12 We noticed in the past week that there were increases in the transport sector.
02:21 There were movements in these stocks.
02:27 Yesterday, there were movements in the sectors related to aviation or shipping.
02:37 The land services sector, catering, had increases.
02:44 The diversification of the centers and the rise in liquidity in these sectors
02:50 are always linked to the future of these stocks and their impact on the 2024 budget
02:59 and the expected economic movement in the Oxford projects, the World Cup projects, and the Asian Cup.
03:08 All of these will affect these sectors.
03:11 The entry of these sectors is really affected by the expectations of these sectors with the new economic movement,
03:20 which contributes to the transformation of many projects of these companies
03:25 and helps to achieve good financial results in the coming year.
03:30 Yes, and this certainly applies to Salem.
03:33 We are entering the fourth session of the highest levels since the inauguration, Mr. Ibrahim.
03:40 How much will Salem be among the sectors that are benefiting from these conferences
03:48 and the events hosted by the Kingdom,
03:52 especially since shipping is one of the most important sectors that the Kingdom is focusing on in terms of expansion?
03:59 Salem represents 95% of the market share in the air traffic sector.
04:10 It is located in the three most important airports in the Kingdom of Saudi Arabia,
04:15 Jeddah, Riyadh, and Dammam.
04:18 There is an increase in the shipping sector based on the vision for 2023,
04:27 with a 14% annual increase.
04:32 All of this will have a major impact on the air traffic sector, and on Salem in particular.
04:37 This is what will contribute to Salem's continued growth from its inception until now.
04:46 Let's go back to the banks.
04:48 Even the head of the National Banking Board is strengthening his position in the bank
04:52 by purchasing a 628,000-shares investment worth more than 24 million.
04:58 If we compare the National Banking Board's move from a move to a move to a move,
05:04 how much more opportunities does the share market have for growth in the coming period, Mr. Ibrahim?
05:10 In general, is the banking sector only a lure for the bonds,
05:16 or are individuals still given the opportunity to focus on it?
05:21 The banking sector was actually at an undervalued stage three or four weeks ago.
05:33 This has changed many businesses in the sector, with a positive outlook for the US
05:43 to continue to have high interest rates and a reduction in the number of bonds.
05:48 All of this will contribute to economic support, meaning that there will be more demand.
05:56 Finally, the Saudi banks will have a different situation in 2024.
06:03 The National Bank is one of the largest banks in Saudi Arabia.
06:08 The head office of many foreign companies, according to the new organization in the Kingdom of Saudi Arabia,
06:15 will be in the hands of non-Saudi companies in the main centers in the Kingdom of Saudi Arabia.
06:23 This will have an impact on the first operations of these banks, and will affect the future performance.
06:33 I expect that in 2024, the banking sector will benefit a lot from the economic situation in the Kingdom of Saudi Arabia,
06:42 not only in terms of projects, but also in terms of foreign companies entering the Kingdom of Saudi Arabia.
06:49 We are seeing that the total exports of Saudi Arabia are decreasing by more than 17% in October.
06:58 How much more will these exports increase in 2024?
07:07 The forecasts indicate that oil prices may improve in 2024.
07:13 According to the Russian Deputy Prime Minister, Novak, prices may reach between 80 and 85 dollars.
07:21 This is without exception, and this may also happen from Angola and its withdrawal from the markets.
07:27 True. When we talk about 80-85, this is the normal case, without any political interference.
07:36 This may happen in the future, God forbid.
07:39 In addition, the decline in exports is due to a decline in demand, not only in Saudi Arabia.
07:48 China is the largest exporter of oil in the world, and this is a result of a decline in oil prices.
07:55 The decline in oil prices is due to the decline in production, which is why there is no high demand for products.
08:09 The expectation is that exports in the Kingdom of Saudi Arabia will increase in 2024, and that in 2027, with the presence of foreign companies in the Kingdom of Saudi Arabia, including its factories and equipment,
08:25 the GDP in the Kingdom will increase, because these companies will be part of the export operations in the Kingdom in the future.
08:36 We are also seeing the transition now. It seems that in 2023, more companies are preparing to move from the equitable market to the main market.
08:47 Today, Mr. Ibrahim, there are many means of transportation.
08:53 In the face of this transition, will we also witness the continuation of the process of entering the equitable market, which will facilitate the exit of some companies to the main market in the near future?
09:03 There are almost no companies in the equitable market. We have reached 70 companies.
09:10 The financial and trading departments have done a great job in reaching this level.
09:18 We have made the secondary market and the growth market a real market.
09:23 It is possible that the liquidity is not in the required form, but at least the companies are still covered in their records and these companies continue to exist.
09:34 The transition to the main market is a great motivation for companies.
09:38 It is a great motivation for companies, first of all, at the level of new companies, to join the growth market,
09:46 in addition to motivating the existing companies in the growth market to move to the main market.
09:53 Companies in the growth market, when they move to the main market, will be next to the former, the current and the big banks.
10:00 This will give them greater financial stability and confidence among investors.
10:06 This will give them a better banking relationship, and even in terms of interest in banking financing, they will have more liquidity.
10:17 I think that most of the companies in the equitable market are aiming to move to the main market.
10:24 Thank you, Mr. Ibrahim Linoibet, CEO of Kasab Al Maliyya.
10:31 These details were with us from Riyadh.