2023-11-14
Daily Market Monitor 14-11-2023
Tadawul Review:
Tadawul All Share Index (TASI) fell for the fifth day, dropping by -44 points (-0.4%) to close at the 10,790 level. TASI opened the session up of 12 points but it started to decline throughout the session until the end. Overall, 12 out of 20 sectors closed in the red zone, while 123 shares fell and 91 rose. Banks (-1.0%), Telecom (-1.5%), and Materials (-0.3%) sectors contributed the most to the index fall. Stockwise, Al Rajhi Bank (-2.8%), Saudi National Bank (-1.4%), and Alinma Bank (-1.7%) were the major contributors. The trading activity witnessed an increase in volume and value of +20% and +8%, respectively, to reach 219mn shares and SAR5.1bn in value traded.
In the U.S., the S&P 500 closed the session down by -0.1%, with 6 of the eleven listed sectors declining, and the Nasdaq Composite was also down by -0.2% with the focus now turning to U.S. inflation data, investors are eagerly looking for more clues regarding whether interest rates have reached their peak The 10-year Treasury yields pushed to a one-week high of 4.668% while the dollar hit 151.78 yen for the first time since mid-October last year,
In Europe, the Stoxx Europe 600 rose by +0.7%, despite investor concerns for the upcoming UK and the turmoil after firing interior minister Suella Braverman for her criticism of the police. The FTSE-100 index closed on a positive note by +0.9% as the pound showed slight strength against both the euro and the US dollar.
In Asia, the market kicked off the week with anticipation for economic and policy highlights across the continent include preliminary Japanese third-quarter GDP, Indian inflation, and a policy decision from the Philippine central bank on Thursday.The Chinese indices were positive (Shanghai Composite: +0.2%, Hang Seng: +1.3%), while the benchmarks in Japan Topix remained unchanged , Nikkei 225 rose by 0.1% as wholesale inflation fell below 1% for the first time in over two and a half years. The other major indices were in a within a range of --0.5% to +0.9%.
Daily Market Monitor 14-11-2023
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