Tadawul Review: 

Tadawul All Share Index (TASI) ended Thursday’s session ‎positively by 49 points (0.4%) to close at 11,305 levels.  TASI ‎opened the session with a significant upside of 134 points ‎over previous close. However, the index underwent a notable ‎decline during the first hour of trading and remained volatile ‎for the rest of the session. In general, 6 out of 20 sectors ‎closed in the green zone, while 78 stocks rose and 133 ‎fell.  Energy (3.1%), Materials (0.3%), and Insurance (1.8%) ‎sectors contributed the most to the index's rise of 38 points. ‎Stockwise, Aramco (3.2%), Riyad Bank (1.9%), and Maaden ‎‎(1.5%) contributed most to the rise of the index. The trading ‎activity witnessed an increase in volume and value by 17% ‎and 10%, respectively, to reach 244mn shares and SAR6.1bn ‎in value traded. The index’ move on Tuesday were quite ‎narrow with a handful of stocks contributing to the rise. ‎Healthy performance since the start of Mar-23, end of Mar-‎end result seasons and general lack of catalysts are likely to ‎force the index end to trade in a narrow range. ‎

 

 

 

Market Wrap International:

The global equity markets partially pared gains from the ‎recent session on Tuesday as investors turned more cautious ‎ahead of the CPI data release in the U.S, the deadlock over ‎debt ceiling in the U.S and not-so-encouraging trade data in ‎China. The sovereign yields in the U.S and commodity prices ‎remained steady. The S&P 500 and Nasdaq Composite fell by ‎‎0.5% and 0.6% respectively. Eight of eleven sectors on the S&P ‎‎500 Index fell with the drop led by materials, tech and ‎healthcare.‎

In Europe, the Stoxx Europe 600 Index fell by 0.3%, snapping ‎its three-day rally. The index’s proceedings were influenced by ‎weak data in China and impending CPI data in the U.S. The ‎country level indices posted a mixed performance.‎

In Asia, Hang Seng (-2.1%) and Shanghai Composite (-1.1%) ‎turned out to be the worst performers on weak trade data ‎showing slowdown in exports and the drop in imports. The ‎data has dented optimism on the pace of economic recovery ‎post lifting of COVID restrictions in China. TOPIX in Japan ‎was a sole outlier and rose by 1.3%. Other major indices were ‎little changed and moved in the range of -0.1% to +1.0%.‎