Tadawul Review:

Tadawul All Share Index (TASI) rebounded after falling the last session, recording an increase of 81 points (+0.6%) to close at 13,621 levels. The market initially fell by 97 points but then recovered to close in the green zone. All but 3 sectors ended the session on a positive note. The Energy sector climbed +0.9% as SAUDI ARAMCO and PETRO RABIGH increased +0.8% and +3.4%, respectively. After incurring losses in the last three sessions, the Insurance sector ended Thursday’s session on a positive note by +1.1%. WATANIYA and BURUJ were among the top gainers, adding to the Insurance sector by +10% and +5.3%, respectively. The Capital Goods sector increased by +1.4% due to many firms within the sector closing in gains ranging from +1% to +3%. Moreover, nearly all the firms within the Real Estate Mgmt & Dev’t sector closed in the green including ALAKARIA which increased by a whopping +8.8% to contribute to the overall addition of +2% in the sector. Trading volumes and values declined by -16% and -16.9%, respectively.

Market Wrap International:

Markets across US and Europe were closed for Friday on account of Good Friday. As Treasuries fell and investors weighed the chances for tighter monetary policy, U.S. stocks ended the holiday-shortened week in the red. On Thursday, the S&P 500 lost -1.2%, with nine of the 11 major industrial groupings falling, headed by information technology and communication services. Information Technology was down -2.4% from the previous day's close with Apple being the major drag. Over the four sessions, the tech-heavy Nasdaq 100 index fell -3%, while the blue-chip Dow Jones Industrial Average fell -0.8%.

In Europe, all major indices managed to close the last week session in the green zone after ECB said it will hold rates at current levels. The broad European index- Stoxx 600 – advanced on Thursday (+0.7%) after it was flat in the previous session. In Germany, after incurring losses for the past three sessions, DAX recovered to finish the session +0.6% higher. FTSE 100 was up by +0.5% while CAC 40 advanced by +0.7%.

On the other hand, Asian equities struggled on Friday as Covid-19 cases continue to rise in Asia’s biggest economy, ending the week’s last session in the red zone. As a result, lockdowns in China led SHCOMP to close in negative -0.4%. In Japan, after adding +2.9% in the last two sessions, NIKKEI 225 went negative on Friday and lost -0.3%. KOSPI and SENSEX fell by -0.8% and -0.4% while HANG SENG was off for holidays.