2023-11-21
Daily Market Monitor 21-11-2023
Tadawul All Share Index (TASI) fell on Monday, dropping by -18 points (-0.2%) to close at 11,119. TASI opened the session on a negative note of -25 points and continued fluctuation until the end of the session. Overall, 9 out of 20 sectors closed in the red zone, while 87of 223 shares fell and 122 rose. Energy (-0.8%), Banks (-0.2%), and Materials (-0.2%) sectors contributed the most to the index’s fall. Stockwise, Aramco (-0.9%), Sabic (-1.7%), Saudi Awwal Bank (-1.7%) were the major contributors. The trading activity witnessed an increase in volume and value of 4% and 58%, respectively, to reach 275 shares and SAR7.1bn in value traded.
In the U.S., stocks showed little movement while investors are preparing for Thanksgiving vacation on Thursday, with no data to guide the market direction. The S&P 500 closed up by +0.7%, nine of the eleven listed sectors rose, and the Nasdaq Composite rose by +1.1%, while the dollar slipped against major currencies.
In Europe, stocks declined on Monday’s session following a robust week boosted by expectations the U.S. Federal Reserve is likely done with interest rate hikes. The Stoxx Europe 600 was up by +0.1%, while the FTSE-100 index was down by -0.1% as the Sterling rose by 2%, nearing its highest point in two months.
In Asia, as the Chinese central bank decided to keep the interest rate unchanged, the stocks in China rose by (Shanghai Composite: +0.5%, Hang Seng: +1.9%), while the stocks in Japanese fell by (Topix: -0.8%, Nikkei 225: -0.6%) after Nikkei reached its highest level since 1990.
Daily Market Monitor 21-11-2023
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