Tadawul Review: 

Tadawul All Share Index (TASI) ended the first day of May ‎negatively on Monday’s by -22points (-0.2%) to close at ‎‎11,286 levels.  TASI had opened the session positively by 8 ‎points from the previous close, while the index started to ‎face a fluctuation between gains and losses during the trading ‎hours before it closed negatively. In general, 7 out of 20 ‎sectors closed in the red zone, while 109 stocks fell and 105 ‎rose. Materials (-0.9%), Energy (-0.6%), and Food and ‎beverages (-1.4%) sectors contributed the most to the index's ‎fall of -26 points. Stockwise, Al Rajhi Bank (-1.0%), Aramco (-‎‎0.7%), and SABIC (-1.8%) contributed most to the fall of the ‎index. The trading activity witnessed an increase in volume ‎and value by 16% and 12%, respectively, to reach 202mn ‎shares and SAR5.8bn in value traded. ‎

 

 

 

 

 Market Wrap International:

Most of the global equity indices were closed for trading on ‎Monday on account of Labor Day holiday. In the U.S, the ‎announcement of acquisition of First Republican Bank by JP ‎Morgan helped the investors calm nerves. However, the focus ‎has now shifted to the FOMC decision in its two-day meeting ‎starting on 2nd May. The key question for the investor is if the ‎fall FRB would be the end of current banking stress in the U.S ‎or more regional names may come under pressure. The ‎sovereign yields in the U.S moved higher by 5-8bps. The S&P ‎‎500 Index and Nasdaq Composite closed the session with 0.04% ‎and 0.1% losses on Monday in a thinly trading market.‎

In Europe, most of the major markets were closed for trading.‎

In Asia, Japan and Australia were the only major markets open ‎for trading on Monday. TOPIX recorded a1% gain, helped by ‎strong results. The Bank of Japan’s decision to maintain the ‎status-quo on the ultra-loose monetary policy last week is ‎helping the sentiment in the middle of the Mar-end earnings ‎result season.    ‎