Tadawul Review:

Tadawul All Share Index (TASI) fell on Thursday, losing 131 points (-1.1%) to close at the 11,907 level. The session opened 5 points lower than the previous closing level and started to gradually decline throughout the end of the session. In general, 20 out of 21 sectors closed in the red zone, and 201 shares fell while 28 rose. Banks (-2.0%), Materials (-0.9%), and Telecommunications (-1.7%) sectors contributed the most to the index rise. Stockwise, Al Rajhi Bank (-2.9%), Saudi National Bank (-1.3%), and Saudi Telecom (-2.1%) were the major contributors. The trading activity witnessed a huge decrease in volume by -61% and decrease in value by -4%, to reach 622Mn shares and SAR7.02bn in value traded.

 

 

 

Market Wrap International: 

On Friday, the Dow Jones and S&P 500 reached record highs, fueled by a sharp increase in Netflix shares following strong earnings. This momentum also lifted tech stocks, contributing to an impressive streak for US markets ahead of major tech companies' upcoming results. The Dow Jones Industrial Average rose by 0.1%, the S&P 500 gained 0.4%, and the Nasdaq Composite climbed 0.6%.

In Europe, markets closed higher, driven by gains in tech and luxury stocks. The CAC 40 and DAX indices each rose by 0.4%, and the EURO STOXX 600 increased by 0.2%. However, the FTSE 100 faced a decline of -0.3%.

 

In Asia, stock markets are gearing up for their busiest week of listings in over two years, marking a crucial moment to assess investor demand. With companies eager to raise capital before the US election, this influx of new listings highlights the urgency for firms to secure funding in a challenging landscape. The Hang Seng Index soared by 3.6%, and the NIKKEI 225 increased by 0.2%, reflecting positive momentum in the region, though the KOSPI dipped by -0.6%. Overall, market sentiment remains optimistic.