Tadawul Review:

Tadawul All Share Index (TASI) rose on Thursday, gaining 76 points (+0.6%) to close at 11,843. The trading session began on a positive note with a 71-point increase at the opening, but saw a gradual decline in the middle of the day before rebounding and finishing strong at the Closing Auction. In general, 18 out of 21 sectors closed in the green zone, and 154 shares rose while 72 fell. Banks (+0.8%), Food and beverages (+1.6%), and Insurance (+1.4%) sectors contributed the most to the index rise. Stockwise, Al Rajhi Bank (+1.0%), Aramco (+0.4%), and Alinma Bank (+1.7%) were the major contributors. The trading activity witnessed an increase in volume and value of 103% and 5%, respectively, to reach 632mn shares and SAR6.5bn in value traded.

 

 

Market Wrap International: 

On Friday, stocks climbed, and both the S&P 500 and Nasdaq Composite experienced their most robust week of 2024 as they prepared for the upcoming Federal Reserve meeting. The NASDAQ and the Dow Jones Industrial Average both rose by 0.7%, while the S&P 500 Composite increased by 0.5%.

European stock markets regained ground after earlier declines this week, fueled by the long-awaited ECB rate cut on Thursday. Major indices ended the week on a positive note. The CAC 40 rose by 0.4%, the DAX climbed by 1%, and the FTSE 100 increased by 0.4%, reflecting a generally positive trend across European markets.

Asian equities saw an uptick on Friday, reflecting the tech-driven gains on Wall Street. Asian markets experienced mixed performances, with key indices such as the Hang Seng climbing by 0.7%, the NIKKEI 225 decreasing by -0.7%, and the KOSPI up by 0.1%.