Tadawul All Share Index (TASI) fell on Sunday, dropping 3 points (-0.03%) to close at 10,716.82. The index opened 6 points below its previous close, but it recovered some losses before the close; however, it still ended in the red zone. Overall, 16 out of 21 sectors closed in the red zone, and 65 shares rose while 190 fell. Utilities (-1.3%), Food & Beverages (-1.6%), and Consumer Discretionary Distribution & Retail (-2.1%) sectors contributed the most to the index decline. Stockwise, Almarai (-1.7%), ACWA Power (-0.8%), and Jarir (-2.9%) were the major contributors to the index decline. The trading activity witnessed a decrease in volume and value of -20% and -29%, respectively, to reach 131mn shares and SAR 2.4bn in value traded.
Market Wrap International:
U.S. equities ended lower at the close of last week as investors continued to reduce exposure to large-cap technology and semiconductor stocks amid concerns over elevated artificial intelligence valuations, while higher oil prices linked to Middle East tensions reinforced inflation worries and encouraged a more cautious risk backdrop. The weakness in technology weighed on broader sentiment despite resilient corporate earnings expectations and relatively stable economic data. That cautious tone carried into Europe, where major markets also drifted lower as technology shares underperformed and investors balanced stronger company results against higher energy prices, geopolitical uncertainty, and a cautious stance ahead of this week's European Central Bank meeting. In Asia, the final trading session of last week reflected the same risk-off environment, with semiconductor and export-oriented technology stocks leading declines across the region as investors reassessed AI-related valuations, while elevated oil prices and geopolitical developments further dampened sentiment, although several markets were supported by rotation into more defensive sectors.