Tadawul Review:

Tadawul All Share Index (TASI) fell on Wednesday, down by -18 points (-0.1%) to close at 12,103 levels. TASI started the session negatively, opening with losses of -6 points and continuing volatile until the end. In general, 11 of 21 sectors closed in the red zone, and 96 shares fell while 128 rose. Energy (-1.7%), Banks (-0.3%), and Insurance (-2.6%) sectors contributed the most to the index fall. Stockwise, SNB (-1.1%), Bupa Arabia (-4.9%), and Saudi Awwal Bank (-1.7%) were the major contributors to the index’s fall. The trading activity witnessed a decline in volume and value of -13% and -14%, respectively, to reach 247mn shares and SAR6.3bn in value traded.

 

 

 

Market Wrap International:  

The U.S. market experienced a rise, with the S&P 500 increasing by 1.2% and the Nasdaq composite surging by 1.4% as investors’ newfound optimism on the U.S. economy faces after the inflation data which was lighter-than-expected.

In Europe, the Euro Stoxx 600 index rose by 0.6%. and the FTSE 100 recorded gain of 0.2%. Investor sentiment was boosted by strong earnings reports from notable companies such as Experian in the UK and Commerzbank in Germany.

In Asia, the SHCOMP fell by 0.8% as the central bank's unchanged key policy rate and rollover of MLF loans impacted market sentiment. Meanwhile, Japan's TOPIX slightly declined while NIKKEI 225 rose 0.1%.