Tadawul Review: 

Tadawul All Share Index (TASI) rose on Sunday’s session, rising by 39 points (+0.3%) to close at the 11,971 level. TASI closed the month with a 793 points gains (MoM: +7.1%), to end the year with 14.2%on YoY basis. TASI began the session on a positive note, gaining 10 points initially, and continued volitale throughout the session until the end. Overall, 15 out of 20 sectors closed in the green zone, while 154 shares rose and 51 fell. Materials(+2.0%), Real Estate(0.6%), and Utilities(+0.4%) sectors contributed the most to the index rise. Stockwise, Maaden (+10%), Bank AlBilad (+1.1%), and Marafiq(+3.4%) were the major contributors. The trading activity witnessed a decline in volume and value of -16% and -27%, respectively, to reach 205mn shares and SAR5.2bn in value traded.

 

 

Market Wrap International:

As 2023 came to a close, the U.S. stock market experienced substantial gains, potentially setting the stage for a positive impact on equities in the upcoming year, based on historical patterns. The S&P 500 index concluded the year with an annual increase of slightly over 24%, as analysts specializing in market trends suggest that robust annual performances in stocks have frequently extended into the following year, which they attribute to factors like momentum and strong underlying fundamentals.

In Europe, 2023 exceeded investor expectations as cash, bonds, gold, and stock markets all rebounded from 2022's volatility. However, the year brought its own challenges, with significant events such as the U.S. banking crisis, the AI stock surge, the Israel-Hamas war's impact on oil supply, and concerns about the Federal Reserve's policies potentially affecting the economy.

In Asia, investor worries about China's economy will impact the asia markets, while South Korea saw consumer inflation easing for a second month in December, aligning with policymakers' expectations of gradual price pressure relief in 2024.