Tadawul Review:

Tadawul All Share Index (TASI) rose on Tuesday, up by +34 points (+0.3%) to close at 11,731 levels. TASI started the session with -27 points down then displayed fluctuations throughout the session until it closed . In general, 18 out of 21 sectors closed in the green zone, and 169 shares rose while 54 fell. Insurance (+5.0%), Food and beverages (+2.7%), and Telecommunications (+1.0%) sectors contributed the most to the index rise. Stockwise, Al Rajhi Bank (+0.9%), ACWA Power (+1.1%), and Bupa Arabia (+7.0%) were the major contributors. The trading activity witnessed a decline in volume and value of -11% and -18%, respectively, to reach 261mn shares and SAR7.1bn in value traded.

 

 

 

Market Wrap International:

The U.S. stock market ended Tuesday on a positive note, with the S&P ‎‎500 gaining 0.4%. Out of the 11 sectors, 3 sectors recorded gains. The ‎Nasdaq Composite also rose by 1.3%. These gains come ahead of statistics ‎on Friday that are forecasted to show a slowdown in the Fed's favored ‎inflation gauge.‎

In Europe, on Tuesday, the Euro Stoxx 600 index declined by -0.2%, the CAC index decreased by -0.6% and the FTSE 100 index experienced a loss of -0.4%. Investors' attention is being pulled in multiple directions, with snap elections in France starting at the weekend.

In Asian markets, the SHCOMP index declined by -0.4% after OpenAI warned developers in China that it would begin blocking their access to its tools and software from July. Meanwhile, in Japan, both the TOPIX and NIKKEI 225 indexes edged up by 1.7% and 0.9% respectively.