Tadawul Review:

Tadawul All-Share Index (TASI) closed Monday's session ‎down for the second day in a row by -66 points (-0.6%), to ‎settle at 10,186 levels. TASI began the session negatively and ‎gradually declined for the remainder of the regular trading ‎hours, finishing down by -114 points. However, in the closing ‎auction, the TASI index was able to recover slightly to trim its ‎losses by adding 48 points. In general, 17 out of 20 sectors ‎closed in the red zone, while 36 shares rose and 168 fell. ‎Banks (-0.8%), Materials (-0.8%), and Health care equipment ‎and services (-3%) sectors were the major drags on the index ‎and contributed a total of -47 points. Stocks-wise, Saudi ‎National Bank (-2.3%), Al Rajhi Bank (-0.7%), and Maaden (-‎‎3.2%) pulled the index down the most. The trading activity ‎witnessed an increase in volume and value by 39% and 42%, ‎respectively, to reach 164mn shares and SAR4.1bn. The index ‎is likely to move sideways in the near-term.‎

 

 

Market Wrap International:

The global equity indices broadly edged down amid concerns over ‎hawkish central banks and growing number of infection cases in ‎China. The fresh promises from Chinese authority to support ‎economic growth provided much-needed positive updates which ‎supported the market sentiments. In the U.S, the benchmark S&P ‎‎500 Index struggled to maintain its levels through the session and ‎closed with a modest loss of 0.9%, recording the fourth straight ‎session of losses. Barring energy, all major sectors were negative, ‎led by consumer services and tech.‎

In Europe, the benchmark Stoxx Euro 600 Index managed to ‎deliver a positive return on Monday of +0.3%. Energy and other ‎commodity-linked sectors were positive on the latest promise from ‎Chinese authorities. The investors' sentiments were also boosted ‎by the latest agreement among EU members to cap the gas prices ‎for the region.‎

In Asia, major markets moved lower with investors taking ‎cautious views due to hawkish central banks and the pace of the ‎reopening of the economy in China. Shanghai Composite Index (-‎‎1.9%) was a major underperformer in the region, followed by ‎TOPIX (-0.8%) and TAIEX (-0.7%). India’s SENSEX (+0.8%, dip ‎buying after two-day selloff) was a sole outperformer in the ‎region.    ‎