Thamer Al-Saeed, Chief Investment Officer at BLME CAPITAL, said that the Saudi stock market has been moving within a narrow range since the beginning of July, amid a state of anticipation and caution among investors awaiting second-quarter corporate results, which will more clearly reflect the impact of recent geopolitical tensions on company performance.

Al-Saeed explained, in an interview with Al-Arabiya Business, that the market currently faces two conflicting factors: on one hand, the upcoming corporate results remain an uncertainty factor, especially after the repercussions of the war between America and Iran and its impact on supply chains and economic activities, and on the other hand, Saudi stocks are trading at attractive valuation levels, about 30% below their historical averages over the past 5, 10, and 15 years.

He added that the decline in average trading values recently reflects reduced risk appetite among investors, along with waiting for clarity on corporate results, in addition to competition from fixed-income investment instruments, as interest rates remain at high levels.

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