Tadawul Review:

Tadawul All Share Index (TASI) ended the session negatively ‎on Wednesday by -16 points (-0.1%) to close at 11,753 levels. ‎TASI opened the session the same as the previous close and ‎continued the session with big fluctuations. However, TASI ‎couldn't hold its gains and dropped by 21 points In the last trading hour. In ‎general, 12 out of 20 sectors closed in the red zone, while ‎‎122 of 223 shares fell and 83 rose. Materials (-0.7%), Banks (-‎‎0.2%), and Banks (-0.6%) sectors contributed the most to the ‎index's -23 point fall. Stockwise, Al Rajhi Bank (-1.8%), Saudi ‎Fransi (-1.9%), and Riyad Bank (-1.1%) were the major ‎contributors. The trading activity witnessed a decline in ‎volume and value of -22% and -31%, respectively, to reach ‎‎254 shares and SAR5.6bn in value traded.‎

 

 

Market Wrap International:

The global equity markets broadly moved higher on the ‎release of better than expected data in the U.K, currency ‎weakness and the push from ongoing earning season. In the ‎U.S, the S&P 500 and Nasdaq Composite rose by 0.2% and ‎‎0.03%. Earnings from regional banks. The Dow Industrial ‎Average rose for the eight straight session. The investors are ‎betting that the Fed would announce the end of its interest ‎rate hike campaign early next week.‎

In Europe, the market was surprised by significant easing in ‎inflation in the U.K with monthly CPI coming at 7.9%. Below ‎expected CPI reading eased investors concerns and triggered a ‎risk-on rally. The FTSE-100 index jumped +1.8% on ‎Wednesday. Other country level indices also rallied except ‎DAX in Germany. The Stoxx Europe 600 Index closed the ‎session with 0.3% gain.‎

In Asia, the comments from BoJ’s chief in support of current ‎ultra loose monetary policy dragged Yen against USD. The ‎commitment for policy stability, alongside ongoing results ‎season pushed Nikkei 225 higher by 1.2%. In China, the key ‎indices moved sideways despite reassurance from authorities ‎to come up with fresh economic measures. Other major ‎indices in the region were mixed.‎