Tadawul Review:

Tadawul All-Share Index (TASI) fell on Thursday’s session by -‎‎14 points (-0.1%) to close at 10,906 levels, TASI opened the ‎session negatively down by -18 ‎points from the previous ‎close, TASI faced intraday volatility, reaching a low of levels ‎at 10,861 and a high of levels at 10,923. In general, 6 out of ‎‎20 sectors closed in the red zone, while 112 ‎stocks fell and 96 ‎rose. Bank (-0.4%), Materials (-0.7 %), and Utilities (-0.4%) ‎sectors contributed the most to the index's fall of -28 points. ‎Stock-wise, Sabic (-1.2%), Bank Albilad (-2.0%), and Maaden ‎‎(-1.4%) contributed most to the fall ‎of the index. The trading ‎activity witnessed a decline in volume and value by -16% and ‎‎-13%, ‎respectively, to reach ‎‎171mn shares and SAR4.9bn. The ‎index is likely to consolidate its recent gains and may move in ‎a narrow range. The upcoming result season remains a major ‎driver for the index to make further recovery. ‎

 

 

 

Market Wrap International:

The global equity markets closed last week on a positive note amid ‎trading suspension in many countries due to Good Friday. In the ‎U.S, the key gauges, S&P 500 and Nasdaq Composite climbed up ‎‎0.4% and 0.8% on Thursday. Investors have had a positive take- ‎away from the job data released earlier in the week, reaffirming ‎easing in the labor market’s tightness. Tech names were the major ‎drivers for both indices. The treasury yields sustained the declining ‎trend  with the yield on 10-year bond recording seventh straight ‎session of easing. Latest job data on Friday came in higher than ‎expected which lifted bets on another 25bps hike in interest rate. ‎Treasury yields were up 8-15bps.‎

In Europe, the benchmark Stoxx Europe 600 Index moved in a ‎narrow range amid thin volume ahead of Easter holiday. The index ‎managed to give 0.5% return driven by financials, real estate and ‎insurance. Country level indices too similar trend sand were up 0.1-‎‎1%.‎

 

In Asia, the key indices recovered from the losses of the past two ‎sessions inspired by positive economic data in China and newsflow ‎in tech sectors. KOSPI (+1.3%) was a major performer in the region ‎driven by announcement by Samsung Electronics’ plans to cut ‎production of semiconductor to remove oversupply in the market. ‎Japan (TOPIX:+0.2%), China (Shanghai Composite:+0.5%) and ‎Taiwan (TAIEX:+0.2%) closed. Markets in Hong Kong and India ‎were closed for trading.  ‎