Tadawul Review: 

Tadawul All Share Index (TASI) slightly declined on Tuesday, down by -3 points to close at 12,122 levels. TASI started the session negatively, opening with a fall of -6 points and continuing to fluctuate throughout the session until the end. In general, 13 of 21 sectors closed in the red zone, and 144 shares fell while 82 rose. Utilities (-1.2%), Banks (-0.1%), and Food and beverages (-0.6%) sectors contributed the most to the index fall. Stockwise, ACWA Power (-1.9%), Al Rajhi Bank (-0.8%) and Saudi Fransi (-1.1%) were the major contributors to the index’s fall. The trading activity witnessed a decline in volume and value of -8% and -11%, respectively, to reach 192mn shares and SAR5.4bn in value traded.

 

 

Market Wrap International:

In the U.S, stocks were positive with the S&P 500 stocks closed Tuesday's session with a records levels, registering a 0.3% increase. Additionally, the Nasdaq composite surging by 0.2% as as investors awaited minutes of the Federal Reserve's policy meeting, due Wednesday.

In Europe, the Euro Stoxx 600 fell by -0.2% and the FTSE 100 index decline by -0.1% on Tuesday as Britain's high inflation rate is expected to approach the Bank of England's 2% target, potentially influencing the central bank's decision on when to implement the first interest rate cut since 2020.

In Asia, the SHCOMP and Hang Seng indices declined by -0.4% and -2.1%, respectively, as Investors' appetite for stocks and risk assets shows no sign of waning in the absence of any major market-moving economic data or events in Asia. The Japan's TOPIX and the NIKKEI 225 both declined by -0.3%.