Urgent: 3 Saudi shares are rising like a missile

While traders around the world await the US Federal Reserve’s decision regarding interest rates, the general index of the Saudi market, Tadawul, succeeded in breaking the violent decline that lasted for 4 sessions.

It is noteworthy that at the end of trading on Monday, the losses of the general index of the Saudi Tadawul market widened for the fourth consecutive session, which coincides with the declines in global markets, in light of the stock markets anticipation of the US Federal Reserve’s decision.

Along with the rise of the Saudi index, some Saudi stocks succeeded in recording insane heights, reaching the highest price ever from listing in the Saudi market.

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The general index of the Saudi market succeeded in breaking the cycle of declines over the past four sessions, to rise by the end of trading today, Tuesday, in the range of 0.5%, or the equivalent of 57 points, to reach levels of 11503.6 points.

The index’s rise came after trading on 126 million shares, with a value of trades that amounted to about 4.8 billion riyals at the end of trading today, Tuesday, through the implementation of about 317 thousand transactions.

The stock’s performance tended to rise, with the prices of 110 securities rising during Tuesday’s trading, while the prices of 13 securities settled on the previous close, while 91 securities closed down.

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rocket altitude

The shares of Dallah Health (TADAWUL: 4004) rose by more than 7.3% to reach the highest price ever since its listing in the Saudi market at levels of 138 riyals, with transactions amounting to 229 thousand shares, with a value of about 31 million riyals.

Shares of Dar Al-Arkan (TADAWUL:4300) jumped during trading today, Tuesday, to the highest price ever, to reach the highest levels of 15 riyals per share, an increase of 2.3%, after trading on 15.3 million shares, worth 230 million riyals.

And the shares of Al Hammadi Holding Company (TADAWUL: 4007) increased to the highest price ever after rising by 4.3% to reach higher levels of 46 riyals after trading on 937.2 thousand shares, with a value of about 43 million riyals.

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violent retreats

The general index of the Saudi market, Tadawul, fell at the end of trading on Monday to its lowest level since the July 17 session, and the index at that time recorded levels of 11,292 points.

Within 4 consecutive sessions, the general index of the Saudi market lost nearly 640 points, down from 12,084 points, down to the current levels, down by 5.3%.

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Why fear?

Gulf banks and many major banks often follow the US Federal Reserve’s interest rate decision because a large portion of central bank deposits are linked to the US dollar.

The high yield on dollar deposits is putting great pressure on high-risk assets such as stocks and cryptocurrencies, so that gold is recording its lowest level in nearly two and a half years after falling today below the levels of $ 1660 an ounce.

On the other hand, from the decline in stocks, the US dollar index rose near its highest levels in more than 20 years against a basket of major currencies, while the yield on US 10-year bonds jumped to a 2011 peak, and the two-year bonds yielded to the highest price since 2007.

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