Reports

2024-11-11

Daily Market Monitor 11-11-2024

Tadawul Review:

Tadawul All Share Index (TASI) fell on Sunday, falling by -28 points (-0.2%) to close at the 12,103 level. TASI opened modestly higher, edging up by one point from the previous close. After a brief dip in the first 15 minutes of trading, the index regained momentum and rose steadily. However, about an hour before the close, it reversed course, drifting lower until the session's end. Overall, 15 out of 21 sectors closed in the red zone, while 144 shares fell and 82 rose. Utilities (-3.6%), Materials (-0.7%), and Food and beverages (-1.1%) sectors contributed the most to the index fall. Stockwise, ACWA Power (-4.6%), Maaden (-3.3%), and Almarai (-1.6%) were the major contributors. The trading activity witnessed a decrease in volume and value of -57% and -19%, respectively, to reach 526mn shares and SAR6.1bn in value traded.

 

 

Market Wrap International: 

As a weekly average, U.S. indices saw solid gains, with the S&P 500 up 1.69%, the Dow Jones rising 2.32%, and the NASDAQ gaining 2.10%. These increases reflect positive investor sentiment across sectors. The US CPI YoY for October will be released on Wednesday, November 13, 2024.

European indices ended in the red, as a weekly average, with the FTSE 100 down -0.53%, the DAX falling -0.60%, and the CAC dropping -0.92%. The EURO STOXX 600 slipped -0.96%. The German CPI MoM for October, a key inflation indicator, will be released on Tuesday, November 12, 2024.

As a weekly average, Asian markets were mixed. The Shanghai Composite rose 3.51%, the Hang Seng gained 1.26%, and Japan's Nikkei 225 and TOPIX increased 0.50% and 0.94%. The KOSPI fell -0.52%. Japan's GDP QoQ for Q3 will be released on Thursday, November 14, 2024.

 

Daily Market Monitor 11-11-2024